Govt content with improved Thai stock trade condition and baht depreciation

Published on March 28, 2013 by TFP   ·   No Comments

BANGKOK, 28 March 2013 (NNT) â€" The government has been content with the improvement on the Thai stock market and the weakening of the baht.

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said on Wednesday that the economic Cabinet meeting, chaired by Prime Minister Yingluck Shinawatra, has discussed this week’s rebound of the Thai stock market after the Stock Exchange of Thailand (SET) index plunged more than 100 points last week.

Mr. Kittiratt said the meeting also touched on the improvement of the baht value.

He stated that the government wishes to see the stability of both the Thai exchange and the baht after it has been quite worried by the drastic volatility of the stock market.

The Finance Minister said the government has been pleased to see the SET index less volatile.

Mr. Kittiratt suggested that earlier stock market fluctuations have been driven by such external factors as the EU economic problems.

He went on to say that while the investors are responsible for their own decision, the SET and the Securities and Exchange Commission (SEC) will be responsible for the trade direction at all time, while the Bank of Thailand (BoT) and the Monetary Policy Committee (MPC) are tasked with the overseeing of the foreign exchange policy and the baht movement.

( Nopparat Chaichalearmmongkol Nopparat Chaichalearmmongkol)

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Source: http://www.news.thethailandlinks.com/2013/03/28/govt-content-with-improved-thai-stock-trade-condition-and-baht-depreciation/