Baht 'unaffected' by China rate hike
- Published: 27/12/2010 at 05:29 PM
- Online news: Economics
China's interest rate hike would not cause the baht's value to fluctuate further, Bank of Thailand assistant governor Pongpen Ruengvirayudh said on Monday.
"I believe China's interest rate hike will not affect other currencies in Asia since each country already has measures to deal with currency fluctuations," Mrs Pongpen said.She said the policy interest rate is rising since it was at a negative level in the past.
However, the difference between interest rates is not the main factor attracting more capital inflow to the country, she said.
Thailand's exports in 2010 hit a record high, surging 26.5 to 28.5 per cent to more than US$190 billion, Commerce Minister Porntiva Nakasai said on Monday.
Commerce Minister Porntiva Nakasai
Mrs Porntiva said the country's export growth caused the gross domestic product to rise 7.9 per cent.Farmers' earnings had improved as prices of most agricultural products had increased this year.
She also said the Internal Trade Department will sign a memorandum of understanding with palm cooking oil manufacturers to ensure that no domestic shortages occur.
The Energy Ministry has agreed to reduce the fuel tariff adjustment charge, also known as the Ft, by 5.67 satang per unit, bringing down the cost of electricity nationwide from January to April next year to 3.11 baht a unit.
Energy Minister Wannarat Channukul said on Monday the government's Energy Regulatory Commission had resolved to decrease the Ft from 92.55 satang to 86.58 satang per unit.
Mr Wannarat said the reduction was approved because of a drop in natural gas prices to 230 baht per million BTU, from 234.58 baht per million BTU, and the baht's appreciation from 32 baht to the US dollar to 30.30 baht a dollar.
The Electricity Generating Authority of Thailand's burden from the Ft subsidy totalled 2.56 billion baht and should be paid off by April, he added.
ไม่มีความคิดเห็น:
แสดงความคิดเห็น