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BoT Says It Will Ease FX Rules, Warns Of Continued Baht Volatility

THAILAND

Comments from the Bank of Thailand are crossing the wires, with the central bank noting that recent baht volatility has been mainly due to external factors, while the currency will continue to be volatile. The BoT added that it will keep monitoring factors affecting baht volatility.

  • Meanwhile, the central bank unveiled plans to further ease FX rules to boost risk management flexibility. Measures will include:
    • raising grant money transfer limit to $200,000 from $50,000
    • relaxing rules for Thai units to send money as notional pooling to parents abroad
    • doubling foreign equities investment limit to $10mn
    • expanding scope of activities for companies under non-resident qualified company (NRQC)
  • In addition, Assistant Governor Alisara Mahasandana said that the BoT will seek to promote local currency usage among local businesses.
  • Note that the BoT has been gradually relaxing FX regulations over the past years as part of its efforts to develop a new FX ecosystem.
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