FTI chief calls on central bank to curb baht to help exporters


BANGKOK, 18 September 2013 Chairman of the Federation of Thai Industries (FTI) Payungsak Chartsutipol is urging the Bank of Thailand (BoT) to supervise the baht movement for the good of Thai exports. 

Mr Payungsak revealed that the private sector wanted relevant units to monitor the Thai currency in order to prevent it from affecting exporters. He said the government should make sure that the baht moved in line with other currencies, such as the Indian rupee and the Indonesian rupiah which had depreciated by large margins lately.

The FTI chairman also expressed his belief that the U.S. and global economies were recovering, judging from the U.S.’s tapering of quantitative easing (QE). He deemed the better economies as a positive sign for Thai exports.

As for the government’s 2-trillion-baht loan bill for infrastructure development, Mr Payungsak said the private sector was supportive of the borrowing, viewing that it would provide better transport connectivity, reduce logistic costs and facilitate trade with neighboring countries.