BOT launches measures to reduce baht pressure - Solve structural problems of the exchange rate market
Ms. Wachira Aromdee, Assistant Governor Financial market line Bank of Thailand (BOT) revealed that in the past External factors including the outcome of the US presidential election And progress of the development of the vaccine against COVID 19 has made foreign investors more สล็อต confident about the global economy. Therefore return to invest in assets of emerging market countries including Thailand As a result, the baht appreciated faster. This may affect the economic recovery that is still fragile. The BOT has closely monitored the situation and continued to monitor the exchange rate market in order to reduce the fluctuation of the baht.
In addition, to help relieve the pressure on the baht and solve structural problems for the Thai foreign exchange market. To help capital move more balanced, the BOT agrees that measures should be taken as follows:
1. Open to Thai people to deposit foreign currency freely (Foreign Currency Deposit (FCD)) and to transfer money between Thai people's FCD accounts. This will help exporters to manage their foreign currency and manage foreign exchange risk more flexible. Able to do transactions via electronic system Reduces the cost of transferring money and making payments. As well as enabling Thai people to diversify their investment in foreign currency assets more conveniently, such as investing in foreign securities. And gold trading in US dollars
2. Adjust rules and procedures for investing in foreign securities. Both in the dimension of the credit limit and the product that can be invested To increase investment options for Thais and encourage more diversification of investment risks
Increased investment limit for individual investors to invest directly to 5 million US dollars per year from 200,000 US dollars per year and no limit on investment in foreign securities invested through domestic intermediaries such as securities companies. And asset management companies
Unlimited investment limit in foreign securities for investors under the supervision of the Securities and Exchange Commission (SEC).
Foreign securities can be traded in Thailand without limit, such as index funds (ETFs) that can refer to foreign securities.
3. Bond Pre-trade Registration: Thai bond investors must register their identity before trading, allowing the BOT to identify and monitor investors' behavior effectively. Close up This will enhance the monitoring of information and enable the BOT to implement policies in a timely and timely manner.
The above measures are part of a plan to build a new FX ecosystem that the Ministry of Finance, the SEC and the BOT are pushing together holistically. To solve the structural problems of the Thai exchange market sustainably