InfoQuest (August 05, 2019) -- Suriya Juangroongruangkit, minister of the Ministry of Industry, said that he will soon hold a meeting with the Bank of Thailand (BOT) to discuss measures to mitigate the pressure caused by the surging baht. The baht should be pegged at 32 per U.S. dollar, he said.
"I hope the central bank governor can pay particular attention to the appreciation of the baht. Although the central bank will suffer from a loss when intervening in the exchange rate, the benefit for the private sector will be more than the cost spent by the central bank in intervening in the market. I will beg the central bank to intervene in the exchange rate, if possible, but I cannot influence the final decision of the central bank as its independence is clearly stipulated by law", Suriya said.
Source: InfoQuest, by Wilawan Pongpitak / Rachada, translated by Xinhua Silk Road
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