Calls grow louder for action on baht

Business > Economics

29.50 exchange rate possible by October

Published: 10/09/2010 at 09:28 PM
Online news: Economics

Business leaders have stepped up their calls for the government to make a greater effort to curb the impact of the strengthening baht, according to Payungsak Chartsutthipol, chairman of the Federation of Thai Industries (FTI).

The baht was trading yesterday at a 13-year high of 30.82/85 to the US dollar, compared with 33.15 baht in January.

The 7.6 per cent increase is the highest in the region behind the Malaysian ringgit.

A customer exchanges money next to a board showing exchange rates in Bangkok on Friday. A US dollar bill now fetches less than 30 baht for the first time since 1997.

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Writer: NANCHANOK WONGSAMUTH and PARISTA YUTHAMANOP

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Your comments

pappu

Discussion 14 : 13/09/2010 at 11:54 AM14
its very difficult for export market ,its big loss for the country,please find the solution asap.
noknoi

Discussion 13 : 13/09/2010 at 10:19 AM13
Just go to other places if you cannot afford it. As for me, it doesn't matter how strong the baht is. I will go regardless. Beside, Thailand needs someone who can afford to pay more than whiners.
IAN WENSOR

Discussion 12 : 12/09/2010 at 08:38 AM12
Everyone likes a Holiday when its affordable but tourists now avoid the Kingdom in favour of other more cost effective destinations. I'm afraid Thailand has shot itself in the foot and in so doing - KILLED THE GOOSE THAT LAID THE GOLDEN EGG!
kaukaukane

Discussion 11 : 12/09/2010 at 01:51 AM11
I have five Thailand trips booked (and more planned) in the next 12-months and will likely cancel as it is reaching that point where I'm not able to justify the added cost brought about by the exchange rate between my country's currency and the baht. Will have to settle with going to neighboring countries ... too bad because I do love Thailand but in the end, it's all about affordability.
Ahbisit's Vegetables

Discussion 10 : 11/09/2010 at 03:50 PM10
I often dream for a weaker "bath". Oh for a return of 74 baht to the GBP
Bill Anderson

Discussion 9 : 11/09/2010 at 03:40 PM9
Just shows you the Goverment does,nt care about the poor only the rich banker types,just like America.
sephyoung

Discussion 8 : 11/09/2010 at 03:18 PM8
Also bad for the real estate market less bang for the buck and euro. Was going to invest in a property in BKK, just changed my mind and getting a property in Las Vegas the prices are ridicuously cheap compared to two years ago. Good time to invest in the USA bargain prices everywhere the economy is in bad shape.
loic

Discussion 7 : 11/09/2010 at 10:30 AM7
the bath is strong only because usa and europe economy are weak and against this thailand can't do nothing so, don't dream too much for a weaker bath soon!!
Feeling the Pinch

Discussion 6 : 11/09/2010 at 09:38 AM6
The baht isn't just strong against the US dollar; the Euro has fallen 23% in one year to the baht. My rent has risen more than USD 300 a month since I began living in Thailand with the baht amount staying the same. It's now cheaper to live in the US than here. I would recommend that no US or European citizen retire in Thailand if finding a lower cost of living is the reason for coming here.
GregB

Discussion 5 : 11/09/2010 at 08:48 AM5
No matter how many times it's explained about the negative impact, it falls on deaf ears. So hello PI, goodbye Thailand will be heard many times. The Peso is 45 to 1 against the USD, why would anyone go to Thailand..? Greed and stupidty continue to dominate the economic mind of Thailand