Central bank takes measures to deal with baht speculation

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7 days ago TN

The back of a 1000 Baht banknote, with the image of King Rama IX, H.M. Bhumibol Adulyadej. Photo: Paul Sullivan / flickr.

The Bank of Thailand is concerned about the rapid appreciation of the baht currency and has taken measures to curb speculative hot-money inflows, Assistant Governor Vachira Arromdee said today (Friday).

Effective July 22nd, limits on the outstanding balance of non-resident baht accounts (NRBA) and the non-resident baht accounts for securities (NRBS), which are opened with financial institutions in Thailand, will be reduced from 300 million baht to 200 million baht for each non-resident baht account.

Full story: thaipbsworld.com

By Thai PBS World

TN

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