Thai baht breaks the Bt34-barrier

Earlier, the Bank of Thailand's  Governor Tarisa Watanagase urged the exporters not to be panic by the rise of the baht, which broke the Bt34-barrier on Thursday. She attributed the rise partly to the foreign inflows to the Stock Exchange of Thailand, adding that the inflows could be decelerating soon.

Nonetheless, she urged the importers to take advantage from the baht rise by importing the machinery to expand their businesses at the moment.

On the Federation of Thai Industries' request for the central bank to curb the rise of the baht, Tarisa said that the central bank had already taken steps in curbing the baht rise.

Usara Wilaipich, senior economist at Standard Chartered Bank (Thai), commented that the appreciation of baht would happen in short term as there were capital inflows to the Thai stock market. While, foreign investors have the confidence that the economy would recover after the new election.

Anoma Srisukkasem