Thai baht hits 19-month high against USD today

13 Sept 11:16 Key points summarised by AI

The Thai baht surged to a 19-month high of 32.93 against the US dollar, with strategists anticipating continued fluctuations.
Industry leaders, including the Federation of Thai Industries, are urging the Bank of Thailand to intervene, citing severe negative impacts on export competitiveness and business profits.
The strong baht also adversely affects the tourism sector, potentially deterring visitors due to less favorable exchange rates.
Thai business and export associations are scheduled to hold a press conference to collectively voice their concerns regarding the baht's appreciation and high interest rates.

Government to start building Chainat-Pasak-Gulf water diversion canal next year

Today 14:58 Key points summarised by AI

Thailand's government will launch the "Chainat-Pasak-Gulf" water diversion canal project in fiscal year 2027, a seven-year mega-infrastructure initiative.
This permanent structural solution aims to mitigate recurrent central plains flooding by diverting water from the Chao Phraya River directly into the Gulf of Thailand, significantly reducing flow to major cities like Ayutthaya and Bangkok.
Prime Minister Anutin Charnvirakul justifies the long-term investment as a means to reduce future damages and fiscal burdens, contrasting it with the 40-50 billion baht spent annually on short-term flood relief.
Concurrently, the Prime Minister instructed officials to expand drainage capacity into the Tha Chin River and swiftly remove water hyacinths to improve immediate flood management.