Capital outflows no cause for alarm, Kittiratt says
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Finance Minister Kittiratt Na-Ranong has played down the panic caused by foreign-capital outflows, which Wednesday softened the baht to its weakest point since last September and put heavy pressure on the stock exchange.
Kittiratt said the softer baht was a boon to the economy, given that the heavy inflows in the early months of the year had caused excess liquidity and currency-management difficulties for many, particularly exporters and importers. The minister said measures to stem the baht’s appreciation were now unnecessary.
The Nation
