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FTI wants action on strong baht

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The Bank of Thailand should intervene to ensure the Thai baht moves in line with other regional currencies, says the Federation of Thai Industries (FTI). 

FTI chairman Payungsak Chartsuthipol said on Saturday he was concerned that the strong baht would affect the trade competitiveness of Thai manufacturers, particularly exporters.

The baht has appreciated by 1.2% against the dollar since the start of this year. It gained 3.1% in 2012 after advancing 5% in 2011. The Thai currency has been the second strongest performer in Asia so far this year, behind the Malaysian ringgit which has gained 1.8%.

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