Exporters' dollar sale boosts Thai baht

Thai baht strengthened to a new 10-year high on Tuesday at Bt32.25 per US dollar, as exporters are selling dollar on fears that the government will lift the 30 per cent capital reserve requirement, dealers said.

The now moves between Bt32.26-Bt32.27.

"Exporters are worried about the government's move and they are also waiting for tomorrow when the Monetary Policy Board will convene to consider if the policy rate should be cut to discourage capital inflows," said a dealer.

Deputy Prime Minister and Finance Minister Surapong Suebwonglee insisted on Tuesday that Thailand would not revive the fixed rate regime, after years of the floating scheme. He also noted that the Bank of Thailand has done its job well in maintaining currency equilibrium.

He also clarified that Prime Minister Samak Sundaravej, by noting of the possibility of reviving the fixed regime, just wanted Bank of Thailand to conduct the feasibility study.

- The Nation

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Exporters' dollar sale boosts Thai baht

Thai baht strengthened to a new 10-year high on Tuesday at Bt32.25 per US dollar, as exporters are selling dollar on fears that the government will lift the 30 per cent capital reserve requirement, dealers said.

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