BOT:Stronger baht has not affected Thai exports

BANGKOK, August 18 (TNA) - The Bank of Thailand (BOT) says that the appreciation of the Thai baht currently has not affected the country's exports, as the central bank has been prepared to cope with the changing situation. BOT Governor Veerathai Santiprabhob told journalists of the information on August 17, ensuring that BOT has closely monitored the updated situation. Veerathai explained that the stronger Thai baht has been caused by a lower than expectation of the latest US economic growth figure, coupled with impacts from Thailand's current account surplus, namely rising capital inflows. The BOT chief stressed that his central bank has been prepared to immediately implement appropriate financial measures to protect Thai exports from the impacts of the strengthening baht, if necessary. The BOT chief suggested, meanwhile, the private sector has its risk management system on changing foreign exchange rates in good place to timely and effectively deal with any possible uncertainty caused mostly by external factors. According to the BOT chief, the central bank will soon propose for the Thai Cabinet's further consideration an incentive measure to encourage small-scaled firms to have their exports insured with a partly subsidized fee offered by the Thai government. (TNA)