The finance minister said on Monday that Thailand's central bank is monitoring the baht weakness but there has been no big concern about it yet, as the currency hit its lowest level in 16 years against the dollar.
The central bank is always taking care of what we've assigned, despite the weakness of the baht. Arkhom Termpittayapaisith said nothing serious.
The baht has fallen by around 11.5 per cent against the dollar so far this year and is trading at 37.75 per dollar at 0723 GMT 3.23 pm, Singapore time on Monday, a 16 year low.
The government still has no plans to adjust the range for 2023 despite headline inflation breaching the Bank of Thailand's BOT target range of 1 per cent to 3 per cent, according to Arkhom. The inflation target is reviewed every year.
Headline inflation was 7.86 per cent in August, a 14 year high.
The finance ministry is tackling inflation with measures on goods and energy prices, while the BOT is using monetary policy.
The BOT is expected to raise its key interest rate again on Wednesday after hiking the rate in August for the first time in nearly four years to contain inflation.