Thailand’s Ministry⁣ of Finance to Discuss Strengthening Baht with BoT

Deputy Minister of Finance, ​Paophum Rojanasakul, reveals plans to consult​ with the Bank of Thailand (BoT) to maintain the exchange​ rate at an ⁢appropriate ​level.

The discussion, scheduled to take place within the next week, aims to address the ​rapidly strengthening baht and its volatility​ compared to other countries in the region. ​The meeting will also cover the overall economic situation and ‍setting a framework for controlling inflation.

According to Rojanasakul, the baht’s appreciation is a cause for concern, as⁣ it affects the country’s exports‍ and tourism. The currency has strengthened by 10% in recent times, from 36 baht per US dollar to 33 baht per US dollar.

Rojanasakul emphasized the‍ need for Thailand’s monetary‌ policy to be consistent with the⁤ global monetary direction, citing interest⁤ rate cuts worldwide as ​a contributing factor to the baht’s⁣ strengthening. ⁣He noted that if Thailand’s monetary policy is‍ inconsistent with others, it will be‌ challenging to address the fluctuation in the⁤ value of the baht.

As ⁤an open country, Thailand’s economic geography ⁢makes monetary policy a crucial matter.​ Rojanasakul plans to discuss the ⁤inflation control framework with the BoT before making any decisions.

Key Points:

• The Ministry of Finance will consult with the BoT ⁣to maintain the exchange rate at an appropriate⁢ level.
• The discussion will cover ‌the overall economic situation and ‌setting a framework for⁣ controlling inflation.
• The baht’s appreciation is a ⁢cause for concern, affecting the country’s exports ⁣and tourism.
• Thailand’s monetary policy must be consistent ⁢with​ the global monetary direction.