BoT boss admits baht too high

Bank of Thailand governor Veerathai Santiprabhob admits the baht has appreciated at a rate which exceeds the economic fundamentals, saying that interest rate cuts are no longer “strong medicine” that can cure it.

The central bank governor on Saturday expressed concern over the currency’s strengthening — the most rapid in the region — saying it is not consistent with economic fundamentals.

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Darana Chudasri