BANGKOK, 17 January 2013 Chairman of Thai Trade Representatives Olarn Chaiprawat has indicated that the strong baht phenomenon at this time will not affect the export sector.
Commenting on the baht which hit its strongest point in 16 months, standing under 30 baht/ US dollar, Mr Olarn said the phenomenon was caused by an influx of foreign capital. Nonetheless, he saw that, from the overall picture, the export sector in Thailand will not be affected by the appreciation.
Mr Olarn, also former Finance Minister, stated the Bank of Thailand still does not need to impose any measure to slow down capital inflows; however, if the baht continues to strengthen, the central bank and the Finance Ministry may have to re-evaluate the baht value at below 30 baht per dollar currently to a new appropriate frame.
