A press release from the Bank of Thailand states that rules will be alleged to allow for an easier capital outflaw. It aims decrease the value of the Thai Baht, which is today still high and putting pressure on both exportations and tourism.
” The Thai baht has been under pressure due to imbalanced capital flows in the current environment of highly uncertain and volatile external conditions, the Ministry of Finance (MOF) and the Bank of Thailand (BOT) decided to relax regulations to facilitate capital outflows to help promote capital flow balance and lessen pressure on the baht. Such relaxations include allowing exporters to keep foreign currency proceeds overseas, allowing retail investors to invest in foreign securities without going through a Thai intermediary institution and allowing businesses and individuals to transfer funds abroad more freely.
These relaxations will be effective 8 November 2019.”
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