ID :
141524
Fri, 09/10/2010 - 10:12
Auther :
Shortlink :
http://m.oananews.org//node/141524
The shortlink copeid
PM urges central bank to find measures to cope with baht surge
BANGKOK, Sept 10 (TNA) - Prime Minister Abhisit Vejjaiva on Thursday revealed that the Bank of Thailand (BoT) was assigned to study details and decide how to cope with the baht's surge to its strongest level in 13 years.
Mr Abhisit said the baht rising to such a level is not beyond expectations. The central bank was told to further study details on the nature of the current capital movement.
Asked whether the baht rise stems from its fundamentals or from speculation, the prime minister said the government is looking at the movement of other currencies in the region to compare with that of the baht.
"Must there be measures to regulate foreign capital inflow?," the premier was asked. In response he said the central bank could do that at its discretion if necessary.
Pressed further regarding whether the baht is likely to further strengthen to reach 29 to the US dollar, the premier said it remains unpredictable, adding that the baht is expected to continue strengthening to a certain extent. However, he said he did not want to go into detail on the matter.
Asked how he would address problems facing entrepreneurs, particularly exporters, the premier conceded the stronger baht could have a severe impact on a particular group of people such as exporters who count on locally produced raw materials for production. (MCOT online news)
Mr Abhisit said the baht rising to such a level is not beyond expectations. The central bank was told to further study details on the nature of the current capital movement.
Asked whether the baht rise stems from its fundamentals or from speculation, the prime minister said the government is looking at the movement of other currencies in the region to compare with that of the baht.
"Must there be measures to regulate foreign capital inflow?," the premier was asked. In response he said the central bank could do that at its discretion if necessary.
Pressed further regarding whether the baht is likely to further strengthen to reach 29 to the US dollar, the premier said it remains unpredictable, adding that the baht is expected to continue strengthening to a certain extent. However, he said he did not want to go into detail on the matter.
Asked how he would address problems facing entrepreneurs, particularly exporters, the premier conceded the stronger baht could have a severe impact on a particular group of people such as exporters who count on locally produced raw materials for production. (MCOT online news)
