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Business operators have renewed calls for the Bank of Thailand to address the baht’s strength, saying an exchange rate of 34-35 baht per US dollar would be more favourable for exports.

Speaking after a meeting between the central bank and the Federation of Thai Industries (FTI) held on Tuesday, Kriengkrai Thiennukul, chairman of the trade group, said continued baht appreciation against the dollar has weakened Thailand’s competitiveness in both exports and tourism — the country’s two key economic drivers — compared with regional peers.

Exports and tourism typically contribute around 60% and 10% of Thailand’s total revenue, respectively.

Against this backdrop, the industrial sector also presented several proposals on baht management to central bank governor Vitai Ratanakorn.

This year the baht has appreciated by as much as 8% against the US dollar, before easing to around 5% at present. In contrast, the Vietnamese dong and the Indonesian rupiah have depreciated by around 3% and 2%, respectively.

Thai exports to the US account for about 18% of total export value, compared with 32% for Vietnam, according to FTI data.

“Exporters would like the baht to weaken by about 2 baht per US dollar, moving within a range of 34-35 baht per dollar, to enhance Thailand’s competitiveness,” said Mr Kriengkrai.

The FTI acknowledges in addition to a weaker dollar, other factors are contributing to the baht’s appreciation, including rising gold prices. Money laundering through gold and cryptocurrency trading — possibly linked to cross-border scams — may also be influencing the baht’s strength against the dollar, he said.

Given these concerns, the private sector urged relevant regulatory agencies to investigate such transactions, trace money flows and identify the true factors behind the baht’s appreciation.

Although Thailand’s correlation between its currency and gold prices is higher than in many other countries, gold exports have also surged significantly, particularly to Cambodia. Cambodia is now Thailand’s second-largest gold export market after Switzerland.

During the first seven months of this year, Thailand’s gold shipments to Cambodia tallied 71.3 billion baht, up from 59.9 billion year-on-year and compared with 106 billion baht for all of 2024.

Mr Kriengkrai said the meeting also covered the impact of US tariffs on the Thai economy. The FTI estimates US tariffs could affect Thai GDP growth by between 0.01 and 0.77 percentage points, depending on how effectively the government responds to the challenge.

In separate news, Mr Vitai confirmed after the meeting the central bank stands ready to work with relevant agencies to ensure effective coordination between monetary and fiscal policy to maintain economic stability.

Amid both external and domestic headwinds, the regulator downgraded its GDP growth forecasts for 2025 and 2026 to 2.2% and 1.6%, respectively, from previous estimates of 2.3% and 1.7%.

Prime Minister Anutin Charnvirakul, in his capacity as interior minister, has banned poker, reversing his Pheu Thai predecessor’s decision to decriminalise it just over two months ago.

The ministerial order signed by Mr Anutin was in line with the government’s policy platform announced on Sept 29 to suppress all forms of gambling, including those disguised as sports, according to the Department of Provincial Administration.

Mr Anutin also rescinded the order allowing poker tournaments, signed by Phumtham Wechayachai on July 30, according to the Department of Provincial Administration.

Mr Phumtham took over the interior minister’s post from Mr Anutin when the Bhumjaithai Party left the former Pheu Thai-led coalition government.

Bhumjaithjai pointed out at the time that the order signed by Mr Phumtham just happened to coincide with a poker tournament that went ahead a day after it was signed.

The Ministry of Tourism and Sports subsequently clarified that poker would be played only as a sport, with oversight from an authorised association.

Sorawong Thienthong, the minister at the time, said the lifting of the 67-year-old ban was not the legalisation of gambling in general.

The Pheu Thai Party had also pushed hard to legalise casino gambling, another policy that Bhumjaithai opposed.

Kunlavut Vitidsarn and mixed doubles pair Dechapol Puavaranukroh and Supissara Paewsampran advanced to the second round of the US$950,000 BWF French Open on Tuesday.

Men’s third seed Kunlavut survived a three-game test against Wang Tzu-wei of Taiwan, fighting back from a game down to win 14-21, 21-7, 21-15 in 55 minutes.

Kunlavut will face either Kodai Naraoka of Japan or Victor Lai of Canada in the last 16 of the World Tour Super 750 event on Thursday.

Mixed pair Dechapol and Supissara had a much easier opening match, defeating Wong Tien Ci and Lim Chiew Sien of Malaysia in two games, 21-17, 21-17, to earn their berth in the last 16 round.

Dechapol and Supissara will play Jafar Hidayatullah and Felisha Alberta Nathaniel Pasaribu of Indonesia on Thursday.

However, Busanan Ongbamrung­- phan made an early exit fter being forced to retire due to injury at 2-11 in the second game against Chinese fifth seed Chen Yufei. Busanan dropped the opening game 9-21.

Chen goes on to face Neslihan Arin of Turkey in the second round.

Another mixed pair, Phuwanat Horbanluekit and Benyapa Aimsaard, also exited the tournament after losing to Marvin Seidel and Nguyen Thuc Phuong of Germany 15-21, 12-21.

Dechapol was due to play his men’s doubles opener with Kittinupong Kedren later on Tuesday.

Ratchanok Intanon will face Natsuki Nidaira of Japan in her opening match on Wednesday.

Flooding remains in 15 provinces, with levels remaining stable or decreasing, according to the Department of Disaster Prevention and Mitigation on Wednesday morning.

The department reported flooding in nine central provinces:

Uthai Thani in Muang district with lower floodwater.

Chai Nat in Sapphaya district with stable flood levels.

Sing Buri in In Buri, Phrom Buri and Muang districts with stable flood levels.

Ang Thong in Pa Mok, Wiset Chai Chan, Chai Yo and Muang districts with stable flood levels.

Suphan Buri in Muang, Bang Pla Ma, Song Phi Nong and U Thong districts with stable flood levels.

Ayutthaya in the districts of Sena, Phak Hai, Bang Ban, Bang Sai, Bang Pa-in, Phra Nakhon Si Ayutthaya, Maha Rat, Bang Pahan, Ban Phraek, Tha Rua, Nakhon Luang and Ban Sa-ai with stable flood levels.

Pathum Thani in Sam Khok and Muang districts with lower flood levels.

Nonthaburi in Muang and Pak Kret districts with lower flood levels.

Nakhon Pathom in Bang Len, Sam Phran, and Nakhon Chai Si districts with stable flood levels.

Ayutthaya still had the most affected households, totalling 53,787, among the 15 inundated provinces nationwide.

In the North, flooding was reported in four provinces:

Phitsanulok in Wang Thong and Bang Rakam districts with lower floodwater.

Sukhothai in Muang, Kong Krailat and Khiri Mat districts with lower flood levels.

Phichit in Sam Ngam, Pho Thale, Pho Prathap Chang, Bung Narang, Bang Mun Nak, Thap Khlo, Muang, Dong Charoen, Sak Lek, Wang Sai Phun, Taphan Hin and Wachira Barami districts with lower flood levels.

Nakhon Sawan in Chumsaeng, Muang, Phayuha Khiri, Krok Phra and Tha Tako districts with stable flood levels.

In the Northeast, flooding was reported in:

Ubon Ratchathani in Muang, Warin Chamrap, Phibun Mangsahan, Sawang Wirawong, Trakan Phuetphon and Don Mot Daeng with lower flood levels.

Udon Thani in Phibun Rak, Sang Khom and Nong Wua So districts with lower flood levels.

Chinese electric vehicle maker Changan Automobile expects to produce 10,000 battery EVs at its factory in Rayong this year, paving the way for exports in 2026.

“Thailand’s BEV [battery EV] market is growing faster than the internal combustion engine segment, driven by government EV incentive packages, rising environmental awareness, competitive pricing, and effective marketing campaigns,” said Shen Xinghua, managing director of Changan Auto Southeast Asia, a subsidiary of the Chongqing-based firm.

The manufacturing plant in Thailand will serve as a production base for right-hand drive vehicles, catering to both domestic and export markets, he said.

Changan plans to export BEVs to international markets, with a focus on the UK, Australia and Nepal. The company aims to export over 1,000 units in 2026, primarily the DEEPAL S05 model.

Under the company’s plan, the Rayong plant is expected to produce 40,000-50,000 vehicles in 2026, with 50% designated for export and 50% for the domestic market.

Mr Shen has asked the National Electric Vehicle Policy Committee to ease BEV production requirements for companies joining the state’s two EV incentive schemes, which grant tax cuts and subsidies to companies importing BEVs for sale in Thailand.

The two schemes — EV3.0 and EV3.5 — require manufacturers to produce EVs locally to compensate for vehicles they have imported since the start of the EV subsidy programmes in 2022 prior to commencing local production.

This has become an uphill task for companies as they may not meet the requirements due to the stagnant car market.

Under EV3.0, companies that started producing BEVs in 2024 are committed to a 1:1 ratio target, meaning they must produce one BEV domestically for every EV they import.

If commencing production in 2025, the ratio is set at 1.5 locally produced BEV for each imported BEV. The ratios are set at 1:2 and 1:3 for manufacturers under the EV3.5 programme, which is aimed at propelling EV industry growth between 2024 and 2027.

Mr Shen wants the committee to relax these time frames, giving EV makers more time to compensate for imported vehicles.

Deputy Prime Minister and Agriculture and Cooperatives Minister Capt Thamanat Prompow on Tuesday denied the People’s Party (PP) allegations that he was linked to scam gangs and call-centre operations.

Capt Thamanat said that the sources of his assets were questioned by some media outlets, but stressed that he had been involved in a wide range of businesses before entering politics.

He said that he had declared his wealth to the anti-corruption agency upon assuming office.

“I’ve never been involved in any grey business, and I’ve defended myself against those allegations in the justice system. I won’t use lawsuits to silence critics, but if the allegations are false, I’ll bring them to court to prove they aren’t true,” Capt Thamanat said.

He also urged the public not to jump to a conclusion about foreign businessman Benjamin Mauerberger, also known as Ben Smith, who is allegedly linked to scam operations.

The minister shrugged off PP MP Rangsiman Rome’s call for his ouster, saying only the prime minister can remove him.

He insisted that any dispute about his suitability to hold the cabinet post, if any, would be settled in court.

Earlier, Thanadon Suwannarit, a lawyer representing Mr Mauerberger, filed a 100-million-baht defamation lawsuit against Mr Rangsiman, who alleged he was linked to scam gangs and call-centre operations during a Sept 30 speech in parliament.

Mr Thanadon also said Capt Thammanat and Mr Mauerberger knew each other via former prime minister Thaksin Shinawatra and that Mr Mauerberger had investments in Dubai.

According to the lawyer, Mr Mauerberger’s role as an adviser to Cambodia’s former prime minister Hun Sen was purely consultative, with no salary or official position attached.

Meanwhile, social media influencer Guntouch Pongpaiboonwet, also known as Gun Chompalang, denied that he secured public relations projects from the Ministry of Agriculture due to his connections with Capt Thamanat.

He said that he had a large following, and he also secured public relations projects from other state agencies, including the Justice Ministry, not only from the Ministry of Agriculture.

He was responding to PP MP Rukchanok Srinok’s questions about his s ties with Capt Thamanat.

Sasin School of Management’s Executive MBA programme has been ranked in the Financial Times 2025 Top 100 EMBA programmes globally (#89), making Sasin the first and only school in Thailand to reach this milestone. This achievement places Sasin among the Top 20 Schools in Asia, reinforcing Sasin’s global reputation and strong regional impact.

According to FT’s ranking methodology, Executive MBA programmes are assessed on a host of factors, including quality, impact, and global relevance. Sasin’s Executive MBA stands out for its strong ESG integration (Asia’s top 10), gender diversity (Asia’s top 15), as well as international faculty and students (Asia’s top 20), reflecting Sasin’s commitment to sustainability, inclusion, and developing globally minded leaders.

‘This achievement is a testament to the unwavering dedication of our students, faculty, staff, and alumni,’ said Professor Ian Fenwick, Director of Sasin. ‘It is immensely gratifying to see Sasin’s Executive MBA programme recognised among the world’s best 100 EMBA programmes, and Sasin being among the top 20 management schools in Asia.’

Sasin’s achievement reflects its vision of Global Reputation, Regional Expertise, combining international standards of excellence with a deep understanding of the region’s dynamic business environment.

‘This ranking reaffirms career success and the strong return on investment for our graduates,’ added Professor Fenwick. ‘They are capable, inspiring, and conscientious leaders who drive positive transformation across industries, cultures, and geographies.’

Over four decades, Sasin has continually set new benchmarks-launching Thailand’s first international MBA programme, becoming the first Thai business school to earn international accreditations from AACSB and EQUIS, achieving the country’s first BSIS (Business School Impact System) designation from EFMD (European Foundation for Management Development), and most recently becoming the first school in Thailand to enter the Financial Times 2025 EMBA Top 100.

Kuehne+Nagel has announced a strategic investment in a new fleet of prime movers in Thailand to meet the rising demand for reliable and scalable cross-border transportation across Southeast Asia. This initiative builds on the successful 2024 acquisition of City Zone Express, a well-established logistics provider operating across Malaysia, Singapore, Vietnam, Thailand, and China.

The fleet will be deployed in three phases: the first batch is already operational, while the second and third batches are scheduled for rollout in January and April 2026 respectively. Once fully deployed, the expanded fleet will include nearly 40 prime movers and 100 containers, giving customers greater capacity and flexibility to move goods efficiently across Southeast Asia.

David Roussiere, Managing Director of Kuehne+Nagel Thailand, Cambodia and Myanmar said: ‘Customers in fast-growing sectors like e-commerce and high-tech can benefit from customised road logistics solutions, including add-ons like real-time visibility and multimodal options. As supply chains evolve, we are committed to helping businesses build resilience, optimise costs and meet their sustainability goals.’

Thailand’s Ministry of Transport has committed over USD 64 billion to infrastructure development since 2022, including major investments in highway construction and logistics connectivity. The ASEAN Customs Transit System (ACTS) continues to streamline operations across Cambodia, Laos, Malaysia, Singapore, Thailand and Vietnam, playing a key role in ASEAN’s efforts to boost intra-regional trade and reduce transaction costs.

With this fleet expansion in Thailand, customers will benefit from faster response times and more reliable transport options to keep their supply chains moving smoothly.

Police seized over 13,000 substandard hair salon items after raiding nine locations in several provinces on Tuesday. The raid followed the death of a 10-year-old girl electrocuted by a hairdryer in northeastern Thailand.

Officers from the Consumer Protection Police Division (CPPD) were prompted by the girl’s case, who died on Oct 10 in Buri Ram while using a hairdryer believed to be substandard and purchased online by her mother.

An investigation revealed the dryer was bought in January through an online platform for 89 baht, with a Chinese label and without approval from the Thai Industrial Standard (TIS), Pol Maj Gen Kongkrit Lertsitthikun, commander of the CPPD, said on Wednesday.

The raid took place in Bangkok, Pathum Thani, Samut Prakan and Ratchaburi, with the premises being warehouses, distribution centres and shops.

Authorities seized 13,929 illegal products, including hair dryers, flat and curling irons and electric combs, worth over 10 million baht, Pol Maj Gen Kongkrit added.

According to investigators, the goods were imported from outside Thailand through online channels, priced from 100 to 1,000 baht per item. Some products were found to have been tagged with TIS labels from other legal products to deceive customers.

The investigation was continuing to identify the importer, Pol Maj Gen Kongkrit said.

Deputy Finance Minister Vorapak Tanyawong announced his resignation on Wednesday, insisting he had no connection with transnational scam networks and vowing legal action against those spreading false information.

Speaking at the Ministry of Finance, Mr Vorapak said the accusations linking him to illegal financial groups, particularly those operating in Cambodia, were distorted and malicious.

‘I have over 30 years of experience in banking and finance, both domestically and internationally. I have never sought political power. My only intention was to serve the country using my expertise,’ he said.

He dismissed claims that he was tied to a scam syndicate in Cambodia, saying he had never been involved in any fraudulent operations, either in Cambodia or elsewhere.

‘Some are trying to link my name with BIC Group and BIC Bank, but I have never had any dealings with them. Whatever legal matters they face are entirely unrelated to me,’ said Mr Vorapak.

He admitted to having met BIC chairman Yim Leak, a close associate of former Cambodian prime minister Hun Sen, but denied serving as an executive or adviser to his companies. He said he was unaware that his name and photo had been used, identifying him as an adviser, on the group’s website.

He also clarified that his acquaintance with Ben Smith, also known as Benjamin Mauerberger, stemmed from their children attending the same school, not from a business relationship.

Mr Mauerberger is alleged to be at the centre of a complex financial web involving prominent Cambodian and Thai figures, some of them linked to the call centre scam industry. His activities have been the subject of a months-long investigative reporting project, updated regularly in the Whale Hunting newsletter.

Finansia deal

The same reports have alleged that Mr Vorapak acted as a nominee in a takeover bid for the Thai investment bank and brokerage Finansia Syrus Securities.

Mr Vorapak on Wednesday denied those claims, explaining that he and colleague Chuangchai Nawongs launched a management buyout bid for Finansia Syrus in 2021.

He said his investment company, Pilgrim Finansa Co, had acquired 29% of Finansia Syrus and later made a tender offer for the remaining shares.

‘It was a legitimate investment opportunity,’ he said. ‘I borrowed several hundred million baht through proper financial channels to acquire the shares, with the support of banks that assessed the risk as acceptable.’

Funding arrangements involved Capital Asia Investment, overseen by the Singapore government, and BIC Bank Laos, managed by Laotian investors, though ultimately no loans were drawn down as no further shares were sold, he said.

He clarified that he had no connection whatsoever with BIC Cambodia, which is owned 99% by Apsara Holding and 1% by Yim Leak.

After the share acquisition, he hired the consultancy McKinsey as an adviser to restructure and digitise Finansia Syrus, but as progress was slow, he sold his stake in 2024 and resigned from all executive positions.

‘Anyone who tries to use my name to suggest ties to scammers is not true,’ he said. ‘The claim that my wife received millions of dollars in cryptocurrency is entirely false. She has no crypto accounts and has never received such payments.’

Mr Vorapak insisted on his transparency, saying he has used the same mobile number and credit card for years, and primarily banks with Krungthai Bank.

‘I welcome any investigation. I have nothing to hide,’ he said.

He reaffirmed his commitment to uphold the truth and protect his reputation and the dignity of his political office.

‘I have never been part of any transnational crime network,’ he said. ‘My three-decade career has always been grounded in integrity and transparency. From now on, I will focus on legal proceedings against those who have defamed me.’

PM sought answers

Mr Vorapak’s resignation came a day after Prime Minister Anutin Charnvirakul asked him for a written response to allegations that he is linked to scam networks in the region.

Mr Vorapak, 61, was earlier named by Finance Minister Ekniti Nitithanprapas to lead a task force to follow the money trail left by such centres.

In a Facebook post just hours before Wednesday’s briefing, Mr Vorapak called the allegations ‘false and politically motivated’ and ‘part of an organised smear campaign’.

The former chief executive of Krungthai Bank said his focus on policy work had been disrupted by the need to respond to these allegations.

‘It’s unfortunate that some of those involved are people I once respected,’ he said in the post. ‘But political bias seems to have clouded their judgement. I’ve tried to respond with compassion, but perhaps I’ll need to recite the Buddha’s verse for overcoming evil.’

Mr Vorapak said he floated the idea of resigning with Mr Anutin before the briefing and that he was not pressured into quitting.