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Wednesday, March 29, 2023

Thais urged to monitor rates

Bank failures cause volatile forex

Containers at a port operated by the Port Authority of Thailand. Exchange rates are fluctuating following recent US bank collapses, which is likely to mean higher prices for shippers.

Thai exporters and importers are being advised to closely monitor the exchange rate and develop appropriate strategies to cope with the impact of short-term foreign exchange fluctuations.

According to Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office (TPSO), the office expects exporters to be affected by volatile exchange rates caused by the impact of recent US bank collapses.

This should rattle money and capital markets in the US, prompting investors to…

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