ID :
149751
Sat, 11/13/2010 - 17:50
Auther :
Shortlink :
http://m.oananews.org//node/149751
The shortlink copeid
FPO instructed to study international capital movement
BANGKOK, Nov 13 – Finance Minister Korn Chatikavanij on Friday revealed he had instructed the Fiscal Policy Office to study the international capital movement following the United States Federal Reserve’s decision to issue a new round of qualitative easing (QE2) measure to stimulate the economy.
He said the move had made the US dollar weaken further against other currencies. Previously, the baht had strengthened uninterruptedly following the implementation of the QE measure by the United States.
Asked to comment on a possibility that the Chinese yuan would become a major currency for trading by the Southeast Asian countries, he said it depended on how much Beijing wants to boost liquidity of the yuan.
Mr Korn said he did not believe various countries in Asia would attempt to tame the US dollar. What they would rather do is to adjust themselves to the greenback movement.
As for the future international trade direction, the minister said the Asian countries must themselves adjust to the trend. They should turn to use other currencies such as the yuan, euro, or currencies of trading partner to prevent impacts of the dollar appreciation. (MCOT online news)
He said the move had made the US dollar weaken further against other currencies. Previously, the baht had strengthened uninterruptedly following the implementation of the QE measure by the United States.
Asked to comment on a possibility that the Chinese yuan would become a major currency for trading by the Southeast Asian countries, he said it depended on how much Beijing wants to boost liquidity of the yuan.
Mr Korn said he did not believe various countries in Asia would attempt to tame the US dollar. What they would rather do is to adjust themselves to the greenback movement.
As for the future international trade direction, the minister said the Asian countries must themselves adjust to the trend. They should turn to use other currencies such as the yuan, euro, or currencies of trading partner to prevent impacts of the dollar appreciation. (MCOT online news)
