Thailand – Finance minister: Strong baht temporary, no impact on trade

• Aug 07, 2017

The strength of Thailand’s baht , now at more than two-year highs against the US dollar, will be short-lived and will not affect exports in the second half of the year, the finance minister said on Monday.

The baht has been driven by foreign investments in Thailand and the country’s tradesurplus, Apisak Tantivorawong told reporters.

“Competitiveness is still fine at the moment. Exports in the second half should remain good as most exports are from large companies, which can still manage the currency,” he said.

He said he believed the central bank would ensure the baht doesn’t appreciate sharply.

The baht traded at 33.29 per US dollar on Monday, having rallied about 7.6% so far this year – the biggest gains so far by an Asian currency.

Source: http://www.bangkokpost.com/business/news/1301630/finance-minister-strong-baht-temporary-no-impact-on-trade