Exporters urged to adopt hedging strategy when baht is strong
The Commerce Ministry suggested on Monday that the private sector should hedge against future volatility in the baht at a time when the Thai currency remains strong
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Winichai Chaemchaeng, vice minister of commerce, told a “How to do business in a period of baht strength” seminar that the baht was currently averaging 32.49 per US dollar, which represented an appreciation of some 4 per cent from early this year.
The ministry suggests that the private sector hedge the baht in foreign-currency dealings, which would help businesses reduce the risk they were exposed to from fluctuations, he said.
Meanwhile, the Commerce Ministry continues to maintain its export-growth target of 5 per cent and economic-growth forecast of 3.3 per cent for Thailand this year.
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