Start of the week, a busy day of news around Thailand with Tim Newton.
Bank of Thailand takes action to curb Thai baht’s strength
The Bank of Thailand is moving forward measures, originally meant to begin early 2021, but most of which will now take effect from end of this month.
The end result is that the new rules will make it easier for Thais to shuffle money overseas and invest in foreign assets. It will also make is easier for Thai citizens to hold foreign currency in local banks. The new rules will also require the registration of local and overseas bond investors.
Last week the Bank of Thailand assessed that the Thai baht’s recent rapid gains could affect the country’s “fragile” economic recovery. The Thai government has called on the central bank to do its best to use what tools it has at its disposal to restrain the baht to protect exports.
Protests go west, up to 2,000…
