Tags : Bank of Thailand

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The rewards (and risks) of Thailand’s big bet on cryptocurrency

As more people and businesses invest in digital currencies, the Bank of Thailand (BOT) faces the delicate task of trying to balance financial stability and investor protection on the one hand while promoting innovation in financial services on the other. Determined to push ahead, the BOT began piloting its own prototype digital currency scheme last […]Read More

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BOT Warns against Usage of Thai Baht Digital (THT)

BANGKOK (NNT) – The Bank of Thailand is warning people to refrain from participating in any activities involving Thai Baht Digital (THT), as there are no legal assurances or protection with it and users could be at risk of cyber-theft or money laundering. BOT assistant governor Pruettipong Srimachand said any activities involving the new stablecoin […]Read More

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BOT urges hedging to counter unpredictable baht

The Bank of Thailand (BOT), under pressure to make a further cut to its policy rate, has warned businesses that the stubbornly strong baht could move in either direction despite this week’s action to reduce the benchmark rate. The central bank’s assistant governor, Chantavarn Sucharitakul, on Friday issued the statement that the currency could move […]Read More

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Thailand’s Central Bank Cuts Policy Interest Rate to 1.5 %

BANGKOK, Aug 7 (TNA) – The Bank of Thailand (BOT) cuts its policy interest rate for the first time in more than four years, down from 1.75 to 1.5 percent. Members of the central bank’s Monetary Policy Committee (MPC) voted 5 to 2 to lower the interest rate at its meeting on Wednesday. Full story: […]Read More

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Baht drops slightly after central bank’s ‘warning shot’

The central bank’s move to curb the rising baht is just a warning shot and will have little impact on the currency’s value or on the bond and stock markets, analysts said. The Bank of Thailand (BOT) took the first step on Friday by reducing the amount of baht accounts held by foreign investors and […]Read More

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Central bank takes measures to deal with baht speculation

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 […]Read More

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Bank of Thailand eyes measures to curb hot money

The Bank of Thailand (BoT) is set to implement measures to curb hot money following the baht’s rapid gain. “The measure is expected to be taken soon. The central bank already has measures to take care of the foreign exchange rate,” said Monetary Policy Committee secretary Titanun Mallikamas. Full story: Bangkok Post Somruedi Banchongduang BANGKOK […]Read More

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Bank of Thailand to issue digital currency

BANGKOK, 26th August 2018 (NNT) – The Bank of Thailand (BoT) is to issue its own digital currency for use in domestic wholesale funds transfers. The currency is expected to be built on an open source blockchain, said BoT Governor Veerathai Santiprabhob, who cited demand for faster transactions across banking networks. He said, like other […]Read More