ID :
145314
Fri, 10/08/2010 - 19:32
Auther :
Shortlink :
http://m.oananews.org//node/145314
The shortlink copeid
PM: Cabinet to consider measures to help businesses affected by baht rise
BANGKOK, Oct 8 – Thailand's Cabinet will consider measures on Tuesday to help cushion business operators hardest hit by by the baht appreciation, Prime Minister Abhisit Vejjajiva said on Friday.
Finance Minister Korn Chatikavanij will also propose to the Cabinet measures to help operators, particularly the small and medium enterprises (SMEs) and those who have no hedge against currency risks, Mr Abhisit said.
The government has closely monitored the strengthening of the baht. The influx of foreign capital following the baht appreciation is the duty of the Bank of Thailand to oversee it, he said.
The baht has already strengthened by 10 per cent since early this year as a result of the continued inflow of foreign capital.
The baht appreciation, which rose this week to the strongest level in 13 years since July 1997, has raised concern that it may negatively affect exports, which account for around 60 per cent of Thailand's gross domestic product (GDP).
The Thai baht traded on Friday at 30.06-30.09 baht against the US dollar. (MCOT online news)
Finance Minister Korn Chatikavanij will also propose to the Cabinet measures to help operators, particularly the small and medium enterprises (SMEs) and those who have no hedge against currency risks, Mr Abhisit said.
The government has closely monitored the strengthening of the baht. The influx of foreign capital following the baht appreciation is the duty of the Bank of Thailand to oversee it, he said.
The baht has already strengthened by 10 per cent since early this year as a result of the continued inflow of foreign capital.
The baht appreciation, which rose this week to the strongest level in 13 years since July 1997, has raised concern that it may negatively affect exports, which account for around 60 per cent of Thailand's gross domestic product (GDP).
The Thai baht traded on Friday at 30.06-30.09 baht against the US dollar. (MCOT online news)
