Thai baht could get weaker: Deputy PM
[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
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
IMF boss says ‘all eyes’ on US amid risks to global economy
UK financial sector seeks stronger accountability of regulators
US weekly jobless claims unchanged at low levels
China's central bank signals caution over credit boost as demand weakens
Former China central bank’s deputy governor accused of taking bribes
Malaysia’s RHB Bank doubles green loans target to RM50 billion