New leaders seek curbs to control baht's rise

The new government plans to suggest measures to manage the baht after it rose to its strongest level in four years.

- PHUSADEE ARUNMAS WICHIT CHANTANUSORNSIRI

Ekniti Nitithanprapas, the incoming finance minister, said yesterday he already held talks with Vitai Ratanakorn, the incoming central bank governor, about preparing appropriate measures to maintain currency stability.

Regarding claims of an “unusual” level of capital inflows, Mr Ekniti said he told the central bank to review whether they are irregular. However, full implementation ofa policy must wait until a cabinet is appointed, he said.

“We have already coordinated with the relevant agencies and held discussions with the incoming central bank governor regarding approaches to managing the baht. However, we must wait for the royal endorsement,” said Mr Ekniti.