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FTI keeping close watch on value of depreciating baht
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published : 13 Jul 2021 at 07:11
9 he Federation of Thai Industries closely monitors the foreign exchange rate after the baht recently fell to its weakest value.
The Federation of Thai Industries (FTI) is closely monitoring the foreign exchange rate after the baht recently fell to its weakest value in 14 months at 32.29 baht to the US dollar, although this benefits Thai exporters.
The baht is expected to remain weak in the short term because the US Federal Reserve is likely to raise its policy interest rate earlier than projected in 2022 and 2023.
Kriengkrai Thiennukul, vice-chairman of FTI, said the baht, which has depreciated faster than other currencies in Asean, tends to fall to between 32.50-32.65 to the dollar.
Firms eye partial lockdown
published : 9 Jul 2021 at 07:04
36 Traffic is sparse on Phaya Thai Road in the central business district of Bangkok on Sunday because of the latest Covid-19 outbreak in the capital. (Photo by Apichit Jinakul)
Local businesses favour a partial lockdown, especially in areas with severe infection numbers to reduce the economic impact.
Many business leaders warn a total nationwide lockdown would cause huge losses for the country s economy and massive harm for enterprises.
Careful vetting
Sanan Angubolkul, chairman of the Thai Chamber of Commerce, said the group disagrees with reinstating nationwide restrictions to curb the spread of Covid-19, as happened during the first wave last year.
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