Shippers seek baht management

Shippers seek baht management

Firmer currency will incur forex risks

The Thai National Shippers’ Council (TNSC) is urging financial authorities to manage the local currency’s value to hover around 31 baht against the US dollar for trade competitiveness.

The baht has appreciated to 30.3 against the greenback and there is a tendency that the local currency’s value could further strengthen to 29.5 next year, said Ghanyapad Tantipipatpong, TNSC’s chairwoman, citing analysts’ views.

If this holds true, the firmer baht would incur foreign exchange risks in terms of the cost and selling price of goods, said Ms Ghanyapad.

It was reported that Ms Ghanyapad also had a meeting with Bank of Thailand governor Sethaput Suthiwartnarueput to ask the central bank to manage the movement of the local currency.

Previously, the TNSC…