Govt asks central bank to manage soaring baht to aid exports

The government wants the Bank of Thailand (BoT) to temper a rally in the nation’s currency, which is threatening efforts to boost exports to balance a slump in tourism revenue, according to Finance Minister Arkhom Termpittayapaisith.

The BoT is “taking care” of the baht, Mr Arkhom told reporters in Bangkok on Wednesday, after the currency rallied to a 10-month high against the US dollar. The baht has surged 4.7% this quarter as foreign inflows into the nation’s stocks and bonds resumed and emerging market currencies rallied on optimism over the global economic outlook.

With the international borders closed to most visitors, Thailand is betting on a revival in trade to minimise the hit…