July 7, 2008
Bangkok - The current baht currency situation is much better than it was ten years ago, according to Thai Farmers Research Center.
Thai baht remained at 33.48-33.50 baht to one US dollar last Wednesday.
Thailand’s foreign reserves were very little during the financial crisis in 1997, and trade deficit was continuously high.
Thailand is now stronger due to improving foreign reserves.
Though the April’s trade deficit was the highest in the twelve-year round, the trade surplus came in the next month.
The foreign currency exchange rate which is interfered by the Bank of Thailand (BoT) is properly handled as well.
Poj Aramwattananont, president of Thai Frozen Foods Association, said the financial crisis ten years ago was caused by weakened baht currency. But the present crisis is caused by strengthened baht.
He also urged the government to have measures to deal with skyrocketing energy prices so that it would not affect the country’s export.
