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Thailand PM urged to prevent rise of the Thai Baht

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Thai Prime Minister Abhisit Vejjajiva should show “strong signals” that the government would not allow the Thai Baht to rise any further against USD, a leading industrialist said on Friday.

“The government has not shown any of such signals. If the baht rises any much further, our industries will fail to adjust,” Payungsak Chartsutipol, Chairman of the Federation of Thai Industries (FTI), the leading association of multi-sector industries, told a press conference.

Payungsak said the Bank of Thailand (BoT), the country’s central bank, should also intervene to prevent the Thai currency from rising faster than other currencies in Southeast Asia.

The Baht climbed to a range of 30.63 to 30.73 Baht against the USD Thursday, the highest level in 13 yrs, said a statement issued by the FTI after a meeting over the impact of the rising Baht.

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