ID :
141990
Tue, 09/14/2010 - 10:30
Auther :
Shortlink :
http://m.oananews.org//node/141990
The shortlink copeid
Baht likely to continue strengthening due to capital influx, says top banker
BANGKOK, Sept 14 – The baht is expected to strengthen further and stay at 30.50 to the US dollar by the end of this year due to the continued capital inflow into Thailand and the current account surplus, according to a top banker.
Boontuck Wungcharoen, chief executive officer of TMB Bank Plc, said the baht had appreciated in close relation to other currencies in the region except the Chinese yuan and the Indian rupee.
The recent baht surge had begun to impact Thailand’s export sector. What the private sector should do now is to adjust to the sharp appreciation of the currency. More bank clients must familiarise themselves with currency risk management.
Mr Boontuck said the Bank of Thailand still must raise the policy interest rate to contain the mounting inflationary pressure next year. He predicted the policy rate would stay at 2-2.25 per cent at the end of this year and increase further to 3.50 per cent by the end of next year. (MCOT online news)
Boontuck Wungcharoen, chief executive officer of TMB Bank Plc, said the baht had appreciated in close relation to other currencies in the region except the Chinese yuan and the Indian rupee.
The recent baht surge had begun to impact Thailand’s export sector. What the private sector should do now is to adjust to the sharp appreciation of the currency. More bank clients must familiarise themselves with currency risk management.
Mr Boontuck said the Bank of Thailand still must raise the policy interest rate to contain the mounting inflationary pressure next year. He predicted the policy rate would stay at 2-2.25 per cent at the end of this year and increase further to 3.50 per cent by the end of next year. (MCOT online news)
