Bank of Thailand says, further baht gains may hurt recovery

A concern had been shown by the Thailand`s central bank, further appreciation of baht will hurt exporters and damage the nation`s economy recovery.

In 13 months last week, the country had advanced to the strongest level as overseas investors boosted their holdings of the country`s stocks and bonds this year.

Prompting Prime Minister Prayuth Chan ocha to increase spending to counter the slump, exports have been contacted in the 16 of the past 18 months. The peaceful approval of a new constitution in an Aug. 7 referendum had bolstered investor confidence as the currency has also rallied.

As said by the Bank of Thailand Assistant Governor of Financial Markets Chantavarn Sucharitakul, in an e-mail interview, “To date, the appreciation of the baht might have dampened the cash flows of Thai exporters. Further strength in the baht might also derail the recovery of the Thai economy; a concern which the bank of Thailand has to monitor closely.”

As of 10:35 am in Bangkok, the baht was at 34.72 per dollar, having increased 3.8 per cent this year. It had appreciated to 34.50 on Aug. 19, the strongest since July 2015.

About The Author

David Nataf started his career as co-founder of Net Development, a leading French web integrators, employing 80 people. After the merger of Net Development with Reef publisher, David joined the law firm, Jean-Pierre Millet, with the defense of computer attackers and victimes specialty ("hackers") in cases between different organizations such as NSA or other members of the international interception 'Echelon' network from the UKUSA treaty or the US Air Force. He is the author of several books on information warfare, consultant for the European Parliament as an expert in computer security (SSI) and electromagnetic signals intelligence (SIGINT). David Nataf successively launched several start-ups of the Internet in the field of paperless technologies termination of contracts online ("resilier.com"); online subscription to early stage fundraising foreshadowing the model will retain more later the platform "gust.com", or free roaming mobile operators (MVNO). Given his specialty at the cross road of anti computer crime legal advising, Internet technology, media and anti-propaganda operations, David has naturally become an actor's influence on the Web, working for a think-tank representing french defense and Aerospace. He is architecting crypto farms and masternodes for cryptocurrencies in Asia and Israel technological parks. He graduated in Law from the Faculty of Paris, is a passionate graduated gemologist by Gemological Institute of America "GG", Gemmological Association of Great Britain "Cert-Ga", practical daily triathlon.

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