Economics
Thai Industry Demands Tougher Currency Measures to Save Exports
- Baht rally hurting exports, economic recovery: Thai Federation
- Tax short-term inflows to rein in currency rally, Supan says
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Thailand must check the runaway gain in its currency as it makes it harder for exporters to compete in the global market and drive an economic recovery, according to the nation’s largest industry group.
Authorities should curb foreign capital inflows if they continue to pressure the currency, the Federation of Thai Industries Chairman Supan Mongkolsuthree said in an interview in Bangkok Wednesday. The group considers baht at about 32 to a U.S. dollar, about 6% below its current rate, as an ideal level to support exports, he said.