Mr. Bundit Sapianchai, Chairman of the Board of Executive Directors, Export-Import Bank of Thailand (EXIM Thailand), presided over the opening of the “Export Market Penetration” training program. Dr. Rak Vorrakitpokatorn, President of EXIM Thailand, delivered a keynote lecture titled “Riding the Currency Waves: Strategies to Tackle Foreign Exchange Rate Volatility” at EXIM Thailand’s Head Office on October 25, 2024.
The session aimed to enhance exporters’ understanding of exchange rate risk management amid Thai baht fluctuations, equipping them to navigate international trade risks professionally. Key strategies included maintaining financial stability through financial instruments rather than speculation, utilizing forward contracts to hedge business positions, selecting suitable foreign currencies for transactions, leveraging export credit insurance, and adapting business models to boost capacity and diversify income sources. For instance, developing eco-friendly packaging aligned with green standards was highlighted as a proactive measure.
During the event, EXIM Thailand provided advisory services and introduced promotional loan packages for participating entrepreneurs. These included: 1) EXIM Happy Export Credit: A working capital loan with a special interest rate of just 3.25% per annum for the first two years; 2) Foreign Exchange Forward Contract Services: Featuring special rates and a Happy FX Rate bonus of an additional 0.03 baht for bookings made by December 30, 2024; and 3) EXIM for Small Biz Export Credit Insurance: Offering protection against non-payment risks from overseas buyers, with a special premium of only 1,800 baht per policy and coverage up to 2 million baht.