ID :
377837
Thu, 08/20/2015 - 15:10
Auther :

Devaluation of Vietnamese dong unlikely to affect Thai exports

BANGKOK, August 20 (TNA) - Newly appointed Commerce Minister Apiradee Tantraporn is optimistic that the latest devaluation of the Vietnamese dong should neither pose negative impacts for Thai exports nor create a currency war in the Association of Southeast Asian Nations (ASEAN). Apiradee made the comments on Thursday, after Hanoi announced the depreciation of the Vietnamese dong for the third time this year and widened the currency’s trading band, following China's depreciation of the yuan last week. Apiradee assessed that Vietnam’s latest devaluation of its currency appears to be aimed at maintaining its economic stability, acknowledging that the Thai baht has weakened to an appropriate level, as the Bank of Thailand (BOT) has closely monitored the baht movements. Apiradee also pointed out that Vietnam and Thailand export their goods to different markets; so, Thailand should not lose overseas markets following the devaluation of the Vietnamese dong. Apiradee said she is, however, more concerned over signs of further declining of global oil prices, as such the situation could slow down world economic recovery and affect Thailand’s exports and inflation consequently. (TNA)

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