These regulations will “make overseas transactions easier while simplifying hedging for firms, allowing for more effective risk management,” Assistant Governor Alisara Mahasandana said during a video briefing.
More steps would be implemented in the coming years, she highlighted.
“We will focus on non-banks by broadening the scope of non-bank FX services and revising criteria for more flexible FX transactions,” she added, adding that this would help reduce costs. According to her, such transactions account for 7% of expenses on average, which is greater than the regional average.
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Separately, Thailand’s central bank stated that the baht’s movement has had little influence on inflation and the economy, despite the currency falling to its lowest level in five years versus the dollar on Thursday.
“The Bank of Thailand is closely monitoring the situation and is prepared to intervene to protect the baht if necessary,” Alisara Mahasandana stated. – According to Reuters.
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