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Thai baht could get weaker: Deputy PM

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Thailand's baht could get weaker following the central bank's recent measures to spur capital outflows, Deputy Prime Minister Pridiyathorn Devakula said on Thursday.

[BANGKOK] Thailand's baht could get weaker following the central bank's recent measures to spur capital outflows, Deputy Prime Minister Pridiyathorn Devakula said on Thursday.

With the measures, "the baht has depreciated and there is a chance of further weakness," he told the National Legislative Assembly during remarks on the performance of the military government after one year in power.

The measures, announced in late April, are aimed at holding down the baht in hopes of exports from trade-dependent Thailand.

The baht stood at 33.69/71 to the dollar at 0830 GMT, having hit its lowest level in more than five years of 33.85 on May 12. It has weakened more than 2 per cent against the dollar this year.

REUTERS

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