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Monday, January 30, 2023

Baht at 9-month high worries exporters

Rising price competition could slow economic recovery

(Photo: Reuters)

Gains in the baht, Asia’s best performer in the past six months, are frustrating exporters and many businesses that say the strong currency is hurting them.

The private sector is concerned about the “rapid baht strength”, Thai Bankers’ Association president Payong Srivanich said in a briefing in Bangkok on Wednesday

The currency, which is on its longest winning streak in nearly six years, is hurting export competitiveness at a time when businesses are already struggling with rising costs from electricity to interest rates, Federation of Thai Industries chairman Kriengkrai Thiennukul said.

Exporters are finding it…

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