BANGKOK - Thailand's central bank is monitoring the weak baht , which is not entirely bad for the economy and could help the key export and tourism sectors, the prime minister said in remarks aired on Thursday (Sept 21), as the baht hit multi-month lows. Srettha Thavisin, speaking during a visit to the United States, said the government was not...
BANGKOK - Thailand's central bank is monitoring the weak baht , which is not entirely bad for the economy and could help the key export and tourism sectors, the prime minister said in remarks aired on Thursday , as the baht hit multi-month lows.
The Thai currency's depreciation was driven by capital outflows due to interest rate differentials, Srettha told reporters. The baht traded at 36.16 per dollar at 0615 GMT, after hitting a more than 10-month low of 36.32 on Wednesday. The unit has weakened by 4.4 per cent against the greenback so far this year.
Southeast Asia's second-largest economy has seen weaker than expected exports, which might fall one per cent to two per cent this year, with economic growth expected at 2.8 per centThe new government, which took office last month, is planning higher spending to help finance fresh policies to stimulate the economy weighed down by soft demand for exports and low investor confidence.
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