All parties urged not to panic over stronger baht

BANGKOK, February 2 (TNA) - Thai Deputy Prime Minister and Finance Minister Kittirat Na-Ranong has suggested that all parties not to panic over the stronger baht, as Prime Minister Yingluck Shinawatra has ordered every concerned agency to keep monitoring the situation and solve the problem. Kittirat, however, expressed his dissatisfaction with overall attempts to solve the sharp appreciation of Thai currency currently, noting today that the Bank of Thailand (BOT)'s policy interest rate, at 2.75 per cent currently, is considered too high. The deputy premier recommended that concerned agencies weigh advantages and disadvantages carefully before solving the problem and use the country’s economic mechanisms in keeping the value of the Thai currency at its appropriate level. The Kasikorn Research Centre (KRC), meanwhile, reported that the Thai baht closed on Friday at 29.78 baht a US dollar, compared to 29.89 baht a US dollar a week ago, saying that the Thai currency is expected to hover between 29.70 and 29.90 baht against the greenback next week. (TNA)