The Federation of Thai Industries (FTI) has called on the Bank of Thailand (BoT) to take action in cooling down the fluctuating and strengthening Thai currency which has severely hurt the private sector.
Jen Namchaisiri and Wallop Witnakorn, FTI vice presidents, said the private sector has felt the pinch from the rapidly appreciating baht – its strongest in the last 17 months.
The BoT should intervene if necessary while the Finance Ministry should speed up investment projects in infrastructure and rail systems, and importing arms and ammunition, they said.
They urged the government to support the private sector in their overseas investment by increasing the outflow cash limits.
BoT Governor Prasarn Trairatvorakul said earlier that the Thai currency has appreciated by 3 percent since the beginning of this year and 5-6 percent since last year, and that the baht movement has been in tandem with regional currencies.
The BoT and FTI are scheduled to meet to thrash out the private sector’s concern on the appreciating Thai baht.
