BANGKOK: Thailand’s baht is too strong, driven by capital inflows, the finance minister said on Monday, as the Thai currency reached its highest level against the dollar in more than four years.
Ekniti Nitithanprapas told reporters he had been in discussions with the central bank to handle the strength of currency, which is impacting the economy. The baht traded at 31.52 per dollar on Monday.
It has strengthened by 8.8% against the dollar so far this year to become Asia’s second-best performing currency.
The finance minister added that Thailand’s GDP is expected to grow by at least 2% this year, supported by earlier stimulus measures aimed at reviving a sluggish economy.
Comments
Comments are closed for this article.