The private sector will on Tuesday propose five measures to stabilise the baht to the Bank of Thailand (BoT) for consideration, Payungsak Chartsutthipol, chairmand the Federation of Thai Industries (FTI), said on Friday.
The measures include a one percentage point reduction in the repurchase rate, along with other means to control foreign direct investment inflow, he said.
Exporters are being severely affected by the current strength of the baht, he said.
Exports of gems and jewellery were down in value by 40%, while the automobile, textile and food industries now faced the problem of a decline in future orders, Mr Payungsak said.
FTI chief said the government should not lower its 2013 export growth target, set at 8% to 9%, but it should find ways to settle the currency problem in order to achieve the export expansion goal.
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Article source: http://www.thethailandlinks.com/2013/04/26/fti-to-propose-baht-curbs-to-bot/
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