The Bank of Thailand is in discussions with China’s central bank over supporting the use of yuan-baht settlement to mitigate foreign exchange risk amid ongoing US dollar volatility.
According to central bank governor Sethaput Suthiwartnarueput, the Bank of Thailand and the People’s Bank of China have held talks over additional cooperation to encourage businesses to use yuan-baht settlement for trade between the two countries.
The Bank of Thailand plans to meet its Chinese counterpart next month to talk about the issue.
In 2021, both central banks renewed their yuan-baht Bilateral Currency Swap Arrangement (BSA) with the aim of boosting trade and investment in local currencies and strengthening financial…
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