Thai Baht gets stronger due to surplus balance of trade

BANGKOK, 28 July 2009 (NNT) – Finance Minister Korn Chatikavanij admitted Thai Baht appreciated today day due to surplus balance of trade in exports and on speculation of the currency.

Mr. Korn said the fewer amount of the US dollar currency had flown out of Thailand due to less imports from overseas markets. He added Thai exports had improved and resulted in the surplus balance of trade. He elaborated that the surplus balance of trade helped push the nation’s current account balance as well.

Mr. Korn said the government would expedite many investment projects pertaining to the imported capital products in order to spend more the US dollar, which would help weaken the Baht in an effort to help prop up Thai exports.