Thailand Asks Central Bank to Manage Currency to Aid Exports
- Central bank is taking care of baht rally: finance minister
- Monetary, fiscal policies in sync can support economy: Arkhom
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Thailand’s government wants the central bank 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.
Bank of Thailand is “taking care” of the baht, Arkhom told reporters in Bangkok on Wednesday, after the currency rallied to a 10-month high against the U.S. 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.