BOT chief affirms competitiveness despite stronger baht

BANGKOK, Nov 21 (TNA) – Bank of Thailand (BoT) Governor Tarisa Watanagase on Friday affirmed that the current baht level had not made the country lose its export competitiveness.

Since early this year, she said, the baht had appreciated by an average of 4 per cent close to that of many other currencies in Asia, which had strengthened by 3-4 per cent.

Some Asian currencies such as the Korean won had appreciated sharply by 10-20 per cent.

She emphasised that the baht movement at the current level had not made Thailand lose its export competitiveness.

Commenting on the ongoing tension between Thailand and Cambodia, Mrs. Tarisa said the diplomatic situation had not yet impacted the overall economy because border trade remained normal.

Mrs Tarisa said that Thai commercial bank branches in Cambodia remained open for service as usual.

The tension had not yet affected the business sector because it is a matter of political actions facing the governments of both countries.

The Bank of Thailand governor expressed hope that the situation will return to normal soon. (TNA)