Last month, the group raised its 2018 export growth estimate to 5.5% from 5.0%, and assumed an average exchange rate of 33 baht to the dollar. But it has yet take into account the impact from an average 3.4% rise in minimum wages, Ghanyapad Tantipipatpong, council chairwoman, told a briefing. "If we don't do anything about the strong baht impact... and the wage increases, export revenue could be cut by $5 billion," she said. Exports are a key driver for the Thai economy and posted solid growth in 2017 despite the baht appreciating 9% against the dollar. BoT director Don Nakornthab told a seminar on Tuesday the dollar's stronger outlook will weaken the baht, helping Thai exports to "some extent".

Source: Bangkok Post February 06, 2018 08:37 UTC