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china news service, bangkok, september 20 (xinhua) according to a report by thai media bangkok post on the 20th, the thai baht has continued to appreciate since the end of june, with the baht exchange rate against the us dollar rising by 10%, the largest increase since the 1997 financial crisis.

the continued appreciation of the thai baht and the excessive increase will cause difficulties for the tourism industry and export development. practitioners have called on relevant departments to take measures to curb the appreciation of the thai baht.

krien klai, chairman of the federation of thai industries, pointed out that the main reason for the recent continuous appreciation of the thai baht is that the federal reserve's sharp interest rate cuts have led to the continuous depreciation of the us dollar. compared with the currency trends of thailand's other trading partners, the thai baht has appreciated too much, causing a large number of private sector production and operations in thailand to fall into difficulties, not only facing the pressure of increased production costs and reduced exports. exports are an important part of thailand's economic development, accounting for nearly 60% of thailand's gdp. therefore, the thai government needs to take measures as soon as possible to maintain the stability of the thai baht exchange rate.

the tourism association of thailand said that although the number of tourists traveling to thailand is still on an upward trend, the strengthening of the thai baht will inevitably squeeze tourists' shopping and hotel spending, leading to changes in tourists' consumption psychology. if the thai baht continues to strengthen, it may affect the number of tourists traveling to thailand.

it is reported that thai commerce minister pichai and deputy finance minister paop have urged the bank of thailand to take measures to control the baht exchange rate as soon as possible. it is expected that the issue will be discussed in detail at the bank of thailand's monetary policy meeting on october 16. (end)

source: china news network