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Thailand denies Baht manipulation

Thailand’s commerce minister Apiradi Tantraporn on October 18 rejected claims that the country engages in unfair currency practices to gain a trade advantage over partners, particularly the US.
Thailand denies Baht manipulation ảnh 1Thai Baht (Source: themalaymailonline.com)

Hanoi (VNA) – Thailand’s commerce ministerApiradi Tantraporn on October 18 rejected claims that the country engages inunfair currency practices to gain a trade advantage over partners, particularlythe US.

The Bank of Thailand faces criticism for doing toolittle to curb gains in the Baht, she said.

Thailand is at risk of being accused by the USDepartment of the Treasury of currency manipulation. The country currently runsa near 20 billion USD bilateral trade surplus with the US.

A committee established by US President DonaldTrump’s administration is investigating the trade deficit with Thailand.

The US treasury is expected to release a reporton foreign exchange policies of major trading partners in October.

Exports of goods and services account for 70percent of Thailand’s revenue, with the US being its third largest tradepartner.

The Thai Baht has risen more than 8 percent overthe US dollar in 2017, recording the strongest growth among Asian currencies thisyear.-VNA

VNA
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