BANGKOK, 30 September 2010 (NNT) – The Center for Economic and Business Forecasting (CEBF) of the University of Thai Chamber of Commerce express concerns over baht appreciation that may harm the regional economy.
CEBF Director Tanawat Polwichai stated that a strong baht was the current problem toward regional economy, particularly in the Northern, Northeastern and Southern areas. He said those regions’ economy mainly depended on agricultural sector which was affected a lot from baht appreciation.
Mr Tanawat viewed the baht value in November as likely to be stronger at 29.5 THB/USD. He accordingly requested the Government to maintain the baht value at 30 THB/USD during this October since the country’s economy would not be much affected.
NNT
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They should impose capital control on bad foreign investment. Export industries are more important than Foreign investment. So Thai Government should reduce interest rate on foreign capital to 1.50 form 1.75. to stop speculation and introduce tax system to contain baht