The Bank of Thailand plans to further relax foreign exchange regulations to balance capital flows, seeking to stabilise the exchange rate over the long term.
The bank is allowing Thai individuals to invest up to US$10 million in offshore markets, up from $5 million now. The move should help to balance capital flows and manage baht-dollar volatility, said Bank of Thailand assistant governor and head of financial markets operations group Alisara Mahasandana.
The regulator is also increasing the amount allowed for cross-border money transfers from $50,000 to $200,000.
In addition, Thai companies are permitted to transfer money to overseas parents, known as “notional pooling”.
These easing measures are scheduled to be implemented in the third quarter this year.
Ms Alisara said the…
