Gov't to consider curbing Thai baht's appreciation: Thai PM

19:02, October 08, 2010      

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Thai Finance Minister Korn Chatikavanij will propose measures to settle the problem of the baht's appreciation to the cabinet for consideration on Tuesday, Prime Minister Abhisit Vejjajiva said on Friday.

The strengthening baht has not yet affected the country's export outlook, but it reduced the incomes of exporters when they converted the U.S. dollars back to the baht, Bangkok Post online quoted Abhisit as saying.

Commerce Minister Pornthiva Nakasai on Thursday urged the Bank of Thailand (BoT) and the finance ministry to step up their efforts to oversee and regain control of the stronger baht, saying exporters had already lost over 6 billion baht (200 million U.S. dollars) in revenue per month.

She said the baht had appreciated by 1.5 percent over the past week, which was considered too rapid.

Deputy Prime Minister for economic matters Trairong Suwannakhiri said on Friday that the baht now had become stronger than currencies of other countries in the Asian region.

Source: Xinhua


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