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Friday, March 29, 2024

BoT, Finance Ministry wrangle baht

The Finance Ministry has discussed managing the baht’s movements with the Bank of Thailand in a bid to help exporters and recoup the economy amid a tourism slump.

The export sector plays an important role in helping stimulate the economic recovery as the tourism industry remains battered by adverse effects stemming from the pandemic, said Finance Minister Arkhom Termpittayapaisith.

Although the baht’s value is moving in line with that of regional currencies, the ministry has asked the central bank to “take care” of the local currency’s movement, said Mr Arkhom.

The baht rose as much as 0.8% to 30.195 to the US dollar on Wednesday, its highest intra-day level since Jan 14, according to data compiled by Bloomberg.

The baht has surged 4.7% this quarter as foreign inflows into Thai stocks and bonds resumed and emerging market…

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