Live Updates > Live Update Details
2025-09-18 14:57:49
[The new Thai government plans to take measures to stabilize the Thai baht exchange rate] The new government led by Thai Prime Minister Anutin Chanwirakul is in consultation with the central bank on measures to stabilize the Thai baht exchange rate. The baht had previously soared to a four-year high, triggering calls for emergency intervention to protect exports and tourism. Finance Minister-designate Ainiti said on Thursday that he had communicated with the new Bank of Thailand Governor, Vithai Rattanakon, about the recent rise in the Thai baht and urged a review of capital flows to identify abnormal factors behind the currency's strength. Vithai is expected to begin his five-year term at the central bank on October 1. Ainiti said a working group has been set up to investigate domestic gold transactions - the current debate over the role of gold in driving the Thai baht's appreciation against the US dollar is raging. The Thai baht has appreciated by about 7% this year, making it the second-best performing currency in Asia after the New Taiwan dollar. The central bank attributed the appreciation to the general weakening of the US dollar, the current account surplus and record gold prices - factors that are restricting exports and tourism, which account for 70% of GDP.
