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Strong Thai baht stirs worries for exports

Too much good news means currency headed for more upside

The Thai baht has risen steadily against the dollar recently, outperforming regional peers and sparking worries that the country's exports would become less competitive.    © Reuters

BANGKOK -- The Thai baht has staged a strong recovery against the dollar after suffering a brief sell-off earlier this year, but central bankers and senior government officials are increasingly worried that continual strength in the currency could hit exports.

"We feel uncomfortable that some park their funds in our short-term bonds," Central Bank Gov. Veerathai Santiprabhob told reporters on the sidelines of a Stock Exchange of Thailand event recently. "We have more inflow than our neighbors who do not have such strong buffer like Thailand's."

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