Views Article – Sharenet Wealth

Asia, Forex

Thai imposes measures on capital flows as baht climbs

BANGKOK, July 12 (Reuters) – Thailand’s central bank said on Friday it had taken steps to ease the impact of short-term speculative flows amid a strengthening baht, and was ready to use additional measures if speculative trading persisted.

The Bank of Thailand “has been closely monitoring the Thai baht as well as non-residents’ capital flow movements, and is concerned about the rapid appreciation of the Thai baht relative to its regional peers, as it could lead to unfavorable macroeconomic repercussions,” Assistant Governor Vachira Arromdee said in a statement.

The central bank reduced the outstanding balance of non-resident baht accounts (NRBA) and non-resident baht accounts for securities (NRBS) to 200 million baht ($6.47 million) per non-resident from 300 million baht, effective July 22.

For more details click on Baht Measures ($1 = 30.90 baht) (Reporting by Orathai Sriring Editing by Darren Schuettler)

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