Thai Officials Pile Pressure on Central Bank to Shield Baht
- Acting premier wants baht back to 35 level to a US dollar
- Central bank said Friday it’s ready to curb baht volatility
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Thailand’s central bank and the finance ministry will soon meet to discuss the baht after it tumbled to the lowest in nearly 16 years, signaling growing concerns among officials that the currency slump can threaten a tepid recovery and stoke inflation.
The ministry and Bank of Thailand will discuss the baht’s weakness as the nation needs “to seek balance” in the currency, Finance Minister Arkhom Termpittayapaisith said late Tuesday. Arkhom’s comments came after Deputy Prime Minister Prawit Wongsuwan told the finance ministry to closely monitor the currency.