RealNews

Thailand rules out fixing exchange rate to slow baht’s rise

Thailand on Monday ruled out returning to a fixed exchange rate to stop the baht’s rise against the dollar but said the government was trying to stabilize the currency. “The current, flexible managed-float system is able to manage the risks. Many countries are using the same approach. The fixed basket system is out of date,” Finance Minister Chalongphob Sussangkarn told reporters. Full Story

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