Thai Prime Minister: Urgent need to address the issue of Thai baht appreciation

Jin10 data reported on September 15 that Thai Prime Minister Anutin said on Monday that urgent measures need to be taken to address the issue of the strengthening Thai Baht, and discussions on this will be held later that evening. After talks with the Federation of Thai Industries, Anutin also stated that he would seek royal approval for a new cabinet list later this week. According to an agreement reached with the largest political party supporting his premiership, Anutin, who won the parliamentary vote by a landslide this month, has only four months in power before a general election will be held. He faces the daunting task of reversing the economic predicament: Thailand is currently dealing with multiple challenges such as U.S. tariffs, high household debt, and weak consumption. The Thai Baht reached a four-year high of 31.57 against the U.S. dollar last week. So far this year, the Baht has appreciated nearly 8%, making it the second-best performing currency in Asia. The business community, including rice traders, has expressed concerns about the strengthening Baht and urged policymakers to take urgent action. The Federation of Thai Industries stated on Monday that an exchange rate level of 34-35 Baht per 1 U.S. dollar would be more suitable for the Thai economy.