The Finance Ministry and the Bank of Thailand are urgently finding ways to stabilise the rising baht but measures to control inflow and outflow in the money market should not be implemented at this time, Finance Minister Kittiratt Na-Ranong said on Saturday.
On the "Yingluck Government Meets the People" weekly programme on NBT, Mr Kittiratt, who is also deputy premier in charge of economic policy, said the rapidly strengthening baht had affected exporters, employment and purchasing power.
He attributed the baht appreciation to fund inflows to different markets.
"It is not about depreciating the baht to 31 baht to a dollar but we'll have to compare it with our trading partners' currencies," Mr Kittiratt said. "We'll try to stabilise the baht, preventing it from fluctuating further."
Thailand's economic growth for this year might not achieve the government's target of 4.5% to 5.5% due to the strong baht, he added.
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Article source: http://www.thethailandlinks.com/2013/04/27/kittiratt-dont-touch-money-market/
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