AsainFin -- Thailand’s new government, led by Prime Minister Anutin, is consulting with the Bank of Thailand on measures to stabilize the baht. The currency recently surged to a four-year high, prompting calls for urgent intervention to protect the country’s export and tourism sectors.

Incoming Finance Minister Arkhom Termpittayapaisith said on Thursday that he had discussed the baht’s recent gains with newly appointed central bank governor Vittaya Ratanakorn and urged a review of capital flows to identify unusual factors driving the currency’s strength. Vittaya is expected to begin his five-year term at the Bank of Thailand on October 1.

Arkhom also noted that a task force has been established to investigate domestic gold trading, amid ongoing debate over gold’s role in the baht’s appreciation against the U.S. dollar. The baht has risen roughly 7% year-to-date, making it the second-best performing currency in Asia after the new Taiwan dollar.

The Bank of Thailand attributes the currency’s gains to a generally weaker dollar, a current account surplus, and record-high gold prices—factors that are putting pressure on exports and tourism, which together account for 70% of GDP.