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Thai baht appreciates by 7.4%

Thai baht appreciates by 7.4%

The Thai baht has appreciated by 7.4 per cent since the end of last year, a level comparable to other Asian currencies, according to the Bank of Thailand (BOT).
BOT Governor M.R. Pridiyathorn Devakula said that the Thai and other currencies in the Asian region are moving toward the equilibrium, sustaining export competitiveness of the Asian economies at a similar level.
“The Thai baht has now appreciated by 7.4 per cent against the US dollar, from about 9 per cent earlier; while the Japanese yen and the Korean won have equally strengthened by 7 per cent,” he told journalists.
“On average, the Asian currencies have appreciated by 5-7 per cent since the end of last year,” he noted.
The euro has, however, strengthened by 8.19 per cent over the same period and the Pound Sterling by 9.28 per cent, according to the BOT chief. (TNA)

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