Government urged to weaken Baht

Depreciating the value of Thai baht, as proposed by Bank of Thailand (BoT) chairman Chatumongol Sonakul, would boost export revenue in the tourism and agricultural sectors, Fiscal Policy Research Institute adviser Olarn Chaipravat said on Wednesday. Speaking at a seminar on Thailand’s macro-economy, former deputy prime minister Olarn said the central bank was able to keep the Baht at Bt35.50/US dollar during the first three months of 2009, but it had since strengthened to Bt34 in the second quarter. He said the most appropriate value for the Baht was 36/US dollar. (Bangkok Post)