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Exporters urged to adopt hedging strategy when baht is strong

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Exporters urged to adopt hedging strategy when baht is strong

By The Nation


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


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.


Source: http://www.nationmultimedia.com/news/breakingnews/30318517

-- © Copyright The Nation 2017-6-19
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