Thailand's Prime Minister Surayud Chulanont on Monday pledged to oversee the baht to prevent it from being too volatile.
Responding to criticism by Olarn Chaipravat, honorary chairman of the Fiscal Policy Research Institute that the Bank of Thailand (BoT) failed to manage the baht efficiently, he said he personally viewed the central bank's officials had attempted their best to oversee the baht in almost a minute to a minute manner.
"Whether the baht will further appreciate or not is beyond anyone's guess. But what the government will try to do now is to prevent it from being too volatile to maintain stability no matter whether it strengthens or weakens," Surayud was quoted by the state-run Thai News Agency as saying.
Olarn said in a seminar on Sunday that BoT governor Tarisa Watanagase had failed to cope with the baht volatility because the currency had strengthened by more than 5 percent since March while other currencies had appreciated less than that.
However, the premier said he would meet and discuss with representatives of the Federation of Thai Industries, the Thai Chamber of Commerce and the Thai Bankers' Association impacts of the baht surge on Monday's evening.
The government would come up with contingency measures in case the situation deteriorates, he said.
"We have to prepare contingency measures in case there are untoward incidents. We need to supervise the business and the overall picture of the economy," he said.
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article