Baht softens temporarily

BANGKOK, May 13 - Bank of Thailand (BoT) governor Tarisa Watanagase said Tuesday that Baht ongoing softening of the Thai currency against the US dollar.This's expected for a short-term basis while inflationary rate in Thailand is projected to continue rising on the back of increasing in oil and commodity prices, baht which had fallen to about Bt32.20 against the dollar on the onshore market now was considered lowest in the past two-and-a-half-month but the impact was still not too serious.

Thailand's economy,it grew more than 6 per cent during the first quarter this year with investment expanded 7.2 per cent during the period, exports up 21 per cent and the current account enjoyed a surplus of about US$3 billion.

This year, the country's current account is expected to enjoy a surplus of around US$4-7 billion due to disbursement by the government, said Mrs. Tarisa. The government-sponsored mega-projects will also help stimulate private investment in future.

Thailand's inflation last month rose to 6.2 per cent as global oil prices continued increasing, she said,
adding that the BoT would follow movements of goods prices closely.

Meanwhile, Deputy Prime Minister and Industry Minister Suwit Khunkitti said he was confident Thailand's economic growth during the second half this year would surpass the first half on the back of solid economic fundamentals and fine investment atmosphere.

The World Bank has now ranked Thailand 15th out of 178 countries among the most attractive countries for investment and the government will adjust investment regulations to facilitate foreign investors, said Mr. Suwit.