Thai government urged to bar foreigners from investing in short-term bonds

BANGKOK, May 4 (TNA) - The Federation of Thai Capital Market Oganisations (FETCO) has urged the government to forbid foreigners to invest in Thai bonds with maturity of less than six months to help relieve the ongoing baht appreciation and to help strong baht-affected exporters in the country. FETCO Chairman Paiboon Nalinthrangkura told journalists that a major reason behind the continual baht appreciation since early this year is a short-term speculation by foreigners investing in short-term Thai bonds, as their outstanding investment now totals about 200 billion baht, up 55 billion baht from the end of 2012. According to the FETCO chairman, the proposed measure has proved successful in several countries, including Indonesia, and it is also accepted internationally.(TNA)