Economic ministers allow Thai baht to run free | Bangkok Post: breakingnews

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Ministers agree, no need to curb baht

The meeting of economic ministers on Wednesday agreed it is not necessary to use special measures to curb the strengthening baht, Finance Minister Kittiratt Na-Ranong said.

The meeting did not want to implement any unnatural measures because it would have a negative impact in the long-term, he said.

The economic ministers wanted the Thai currency to move in line with the market mechanism. Relevant agencies will keep a close watch on the baht's movement and will meet again if the currency gets too strong, he added.

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  • DONHUAN

    ThailandPost : 338

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    Discussion 2 : 21 Mar 2013 at 00.352

    Considering that two trillion baht (USD 67.5 billion) are about to be splashed on 'infrastructure projects', there will be some concerted moves to appreciate the baht significantly in order to save costs in foreign exchange. Still remember last month’s baht sudden appreciation; connect the dots linking TCC’s S$11 billion plus take-over of F &N’s remaining shares in Singapore. The government and the giant conglomerates in Thailand have to work hand in gloves together on all things financial with economic leveraging. Connect the dots linking year 2015, AEC and market dominance over 500 million people; stay focus on this big picture.

  • dearheart

    ThailandPost : 29

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    Discussion 1 : 20 Mar 2013 at 17.431

    What's troubling here is the idea of having to rely on the word of government officials about all these "foreign investments." Unfortunately, economic ministers only end up with these jobs - they
    have no genuine training and this is why a strong baht is viewed as a strong economy. Thaksin went
    on record before being forced from office as favoring a return to the 25 baht to the dollar exchange rate, which a high school student in America would recognize as a sure way to destroy the economy. I
    believe the government has decided to let the exporters collapse out of sheer greed and ignorance.

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