Bozo until the very end… Prime Minister Surayud has apparently zero knowledge of economy and doesn’t know the regulations in his own country.
“Prime Minister Surayud Chulanont calls on exporters not to sell their US dollars and says he will discuss solutions to the problem of commodity price hikes with the Ministry of Commerce.” (PRD)
It’s panic time again, with the fall of USD, exactly like I wrote a few days ago… “Baht strongest in 10 years” (Nation)
However, Surayud should know that it is compulsory for thai companies to sell the dollars they receive in payment. BOT’s regulations ! They can’t keep them, even though Bank of Thailand has extended the period.
Furthermore, the Prime Minister should stop thinking that businesses are as stupid as him : when you know, when all facts lead to a further fall of the USD (FED is going to cut rates end of january, god damnit !), are you going to keep them, just for the pleasure of loosing money ?
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