BoT considering exchange controls

Business > Economics

Published: 9/09/2010 at 03:23 PM
Online news: Economics

Prime Minister Abhisit Vejjajiva said on Thursday afternoon that he had given the Bank of Thailand guidelines about introducing measures to curb the value of Thai baht, if necessary, reports said.

“I have told the central bank that it can take measures to control the foreign direct investment inflow and outflow to prevent the baht from fluctuating too heavily," said Mr Abhisit.

It was possible that the currency would continue to strengthen, but he could not say whether it would reach 29 baht to the US dollar, as speculated.

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Your comments

Chav

Discussion 3 : 10/09/2010 at 09:46 AM3
"Look at the prices in the stores now" says Discussion One....

For your information, a stronger baht means cheaper prices as products are imported more cheaply and commodity prices in Thai baht (priced to the USD) also fall locally.
Paul

Discussion 2 : 10/09/2010 at 05:46 AM2
More proof that the baht exchange rate is arbitrarily manipulated by Thai gov't employees, who will say and do anything to save face and keep their jobs. Can't wait till their BS comes back and bites them!
Lomsakpeter

Discussion 1 : 09/09/2010 at 04:02 PM1
I think it may be too late! Greed has just about to see the country sink! It should have halted this situration months ago, but, someone has sold the country out, and have made themselves very rich! Now the whole country is going to suffer alot more. Look at the prices in the stores now, it going to become very differcult for everyone very soon! And the world ain't going to come back any time soon, not at theses rates!

BoT considering exchange controls | Bangkok Post: business