Big Businesss urges weaker baht | Bangkok Post: business

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BoT urged to weaken rising baht

Big-business coalition cites harm to exports

  • Published: | Viewed: 5,798 | Comments: 8
  • Newspaper section: Business
  • Writer: Piyachart Maikaew
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The private sector is stepping up its pressure on the Bank of Thailand to ease the baht's strength, saying the central bank should look at the possibility of an interest rate cut and tax measures to cope with foreign capital inflows. 

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), which comprises the Federation of Thai Industries (FTI), the Thai Chamber of Commerce and the Thai Bankers' Association, met yesterday to discuss the impact of the strong baht, which was quoted yesterday at 29.75 baht against the US dollar.

JSCCIB chairman Payungsak Chartsuthipol said strong foreign capital inflows had strengthened the baht and short-term fluctuations had adversely affected exporters.

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