ID :
148544
Wed, 11/03/2010 - 09:59
Auther :
Shortlink :
http://m.oananews.org//node/148544
The shortlink copeid
Fed’s issuance of QE2 won’t affect baht in short run, says Thai finance minister
BANGKOK, Oct 3 – The United States Federal Reserve’s much-anticipated second round of Quantitative Easing (QE2) measures will not affect Thailand’s currency exchange rate in the short run, according to Finance Minister Korn Chatikavanij.
The finance minister revealed he had discussed with Bank of Thailand (BoT) Governor Prasarn Triratvorakul a proper approach to coping with the possible impact of the QE2 measure on the Thai economy.
Actually, the planned issuance of the QE2 measure by Fed is widely expected in the financial market, he said, adding that the US dollar had already weakened in response to the news.
However, he believed an injection of up to US$750 billion to stimulate the US economy under the QE2 measure would have no impact on the baht movement in the short term.
Mr Korn projected the dollar would continue weakening in the long run. Consequently, Thai entrepreneurs must adjust themselves to the situation and find a way to cash in on the strengthening of the baht.
He said the Board of Investment had changed its role from promoting foreign investment in Thailand to encouraging Thai entrepreneurs to invest more overseas.
Simultaneously, the government would speed up issuing measures to encourage investment overseas and outlining a strategy to boost trade, he added. (MCOT online news)
The finance minister revealed he had discussed with Bank of Thailand (BoT) Governor Prasarn Triratvorakul a proper approach to coping with the possible impact of the QE2 measure on the Thai economy.
Actually, the planned issuance of the QE2 measure by Fed is widely expected in the financial market, he said, adding that the US dollar had already weakened in response to the news.
However, he believed an injection of up to US$750 billion to stimulate the US economy under the QE2 measure would have no impact on the baht movement in the short term.
Mr Korn projected the dollar would continue weakening in the long run. Consequently, Thai entrepreneurs must adjust themselves to the situation and find a way to cash in on the strengthening of the baht.
He said the Board of Investment had changed its role from promoting foreign investment in Thailand to encouraging Thai entrepreneurs to invest more overseas.
Simultaneously, the government would speed up issuing measures to encourage investment overseas and outlining a strategy to boost trade, he added. (MCOT online news)
