BANGKOK, July 15 Kyodo Thailand's...

BANGKOK, July 15 Kyodo

Thailand's money; aggregate of coin on Monday strengthened to 4091 baht against the U dollar, up 87% from the average of 4448 baht to the dollar last year.

Prime Minister Thaksin Shinawatra predicted Sunday, when the rate was 4105 baht to the dollar, that the baht would shortly go below the 40 level

His remarks readyed central bank chief Pridiyathorm Devakula to caution that the prime minister should not remark on the exchange rate ''because this is the business of the Bank of Thailand governor.''

A subsidiary research firm of the Thai Farmers Bank said Monday that the Thai circulation has strengthened more than many other regional currencies, although the Indonesian rupiah has gained 139% and the toward the south Korean won 9.6% over their averages for last year.

''The baht's appreciation has outperformed average increases of other regional currencies as a outcome of the weaker U.S. dollar, as well as rising local stocks,'' it said.

''So far, the strengthening of the baht has not convincingly been supported from economic fundamentals, given net flows from the private sector and the country's export performance,'' it added.

COPYRIGHT 2002 Kyodo freshs International, Inc.

COPYRIGHT 2002 Gale Group