Thai businesses urge Bank of Thailand to stabilize strengthening baht, threatening exports and tourism.
Thai businesses are urging the Bank of Thailand to stabilize the rapidly strengthening baht, which has risen 13% against the dollar since April. This surge threatens the export and tourism sectors, critical to the economy, and could hinder fourth-quarter growth. The Thai Chamber of Commerce is calling for measures like interest rate reductions and economic stimulus, while the central bank claims it is monitoring the situation without significant impact on exports yet.
September 22, 2024
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