BoT urged to address strong baht

Industrial sector presents proposals

- SOMRUEDI BANCHONGDUANG

Business operators have renewed calls for the Bank of Thailand to address the baht's strength, saying an exchange rate of 34-35 baht per US dollar would be more favourable for exports.

Speaking after a meeting between the central bank and the Federation of Thai Industries (FTI) held yesterday, Kriengkrai Thiennukul, chairman of the trade group, said continued baht appreciation against the dollar has weakened Thailand's competitiveness in both exports and tourism the country's two key economic drivers - compared with regional peers.

Exports and tourism typically contribute around 60% and 10% of Thailand's total revenue, respectively.

Against this backdrop, the industrial sector also presented several proposals on baht management to central bank governor Vitai Ratanakorn.