DITP keeps close eye on currency situation in the region, aiming to boost export

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BANGKOK, 19 Feb 2015,  The Department of International Trade Promotion (DITP) is keeping a close eye on the currency situation in the ASEAN region, aiming to boost export.

The DITP has been following up on the baht’s direction compared to the rest of the region’s currencies. The department has claimed that the information will help the export sector’s overall situation increasing its competitiveness.

According to the department’s Director-General, Nantawan Sakuntanak, it is necessary to know how other currencies perform, adding that the depreciation of baht will be conducive to the growth of the export sector. But if all other currencies in the region also depreciate at the same rate as the baht, the Thai export sector would not benefit as from the baht depreciation as much as it should.

If the baht depreciated more than it should, the Bank of Thailand would have to come up with necessary measures to handle the issue.

According to the DITP Director-General, her department will after the first quarter submit a revision of its export projection for this year, still setting the goal for the sector’s growth at 4% on-year.