Forex Blog: Currency Trading News & Analysis.

July 25th 2007

Thailand moves to Curb Baht

Nearly one year ago, Thailand’s military overthrew the government in a bloodless coup, and commentators immediately began painting doomsday scenarios around the country’s economy. Since then, the Thai economy has surged, and the Baht has appreciated by over 20% and isn’t showing any signs of slowing. In response to concerns that the rising currency would begin to hinder exports and economic growth, Thailand has introduced a spate of measures designed to hold the currency in check. Namely, Thai businesses and citizens will be afforded more flexibility in transferring money outside of the country and keeping Thai currency in offshore accounts. MarketWatch reports:

“In the absence of a clear softening in the currency’s upward momentum, we expect Thai authorities to continue to apply a variety of measures — including further reductions in interest rates…”

Read More: Thailand relaxes currency rules to curb baht

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Posted by Adam Kritzer | in Emerging Currencies | No Comments »

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