New Thai Government Mulling Steps to Stabilize Baht, Ekniti Says

Thai Prime Minister Anutin Charnvirakul’s incoming administration is in talks with the central bank on measures to stabilize the baht, after the currency’s rally to a four-year high sparked calls for urgent intervention to protect exports and tourism.

Ekniti Nitithanprapas, the finance minister-designate, said Thursday he has spoken to newly-appointed Bank of Thailand Governor Vitai Ratanakorn about baht’s recent surge and urged a review of money flows for any anomalies behind the currency’s strength. Vitai is scheduled to begin his five-year term at BOT on Oct. 1.