The Bank of Thailand has tried to allay the private sector's concerns over the strengthening baht by affirming that the currency's value remains competitive amid substantial offshore fund flows into the domestic financial market. The private sector has emphasised that the baht's value should not diverge from that of Thailand's trading competitors," said central bank governor Veerathai Santiprabhob. (Photo by Pattarachai Preechapanich)The baht fell slightly to 34.61 to the US dollar yesterday from 34.60 on Tuesday, according to Reuters. The baht rose at a fast clip after the UK's Brexit vote in June and the passage of the new constitution. The firmer baht has irked exporters, who have urged the Bank of Thailand to come up with measures to curb the strong local currency.

Source: Bangkok Post August 31, 2016 21:56 UTC