Central bank prepares 25 billion baht cash for banks to cope with holiday spending during Songkran

[webfact]

Central bank prepares 25 billion baht cash for banks to cope with holiday spending during Songkran

By Thai PBS

 

 

 

As holiday spending during the one week long Songkran festival is expected to rise, the Bank of Thailand (BoT) said it will put in circulation about 25 billion baht banknotes to cope with the heavy spending by the people during the festival.

 

The central bank’s assistant governor Woraporn Tangsaghasaksri in charge of Banknote Management Group, said high demand for banknotes is expected during the long holiday Songkran festival in mid April.

 

Therefore the central bank will put about 25 billion baht of banknotes in circulation, the similar amount to that of last year, he said.

 

Full story: http://englishnews.thaipbs.or.th/central-bank-prepares-25-billion-baht-cash-banks-cope-holiday-spending-songkran/

 

-- © Copyright Thai PBS 2018-04-05

[ChrisY1]

So they just print more money?

[FritsSikkink]

6 minutes ago, ChrisY1 said:

So they just print more money?

No, like any central bank in the world they have that in their faults.

[shady86]

What happened to the cashless payment campaign?

[JOC]

Love to play with numbers....

25 billion baht.....70 million people......equals an average spending of 357 baht.......7 days........51 baht per day

Not really that impressive.....

[StayinThailand2much]

6 minutes ago, JOC said:

Love to play with numbers....

25 billion baht.....70 million people......equals an average spending of 357 baht.......7 days........51 baht per day

Not really that impressive.....

Wow, that's a whopping 10 MAMA packages per day...  Hope they watch their waistline! 

[StayinThailand2much]

15 minutes ago, shady86 said:

What happened to the cashless payment campaign?

The what... ?

[metisdead]

A post of a dangerous nature regarding the Royal family has been removed. 

[watcharacters]

 

 

 

I'm rushing to the ATM as I read this.

 

 

[ratcatcher]

2 hours ago, FritsSikkink said:

No, like any central bank in the world they have that in their faults.

My bank, Kasikorn, is faultless.

[metisdead]

A post in which the quoted content had been altered has been removed. 

[OldSiamHand]

3 hours ago, ChrisY1 said:

So they just print more money?

quite possibly.  pretty much all currencies are fiat currencies, and central banks generally have the authority to create new money.  this was done after the financial crisis to a huge extent in the UK, Euro zone, US and Japan.  the balance sheets of central banks have ballooned since 2007 as a result.

[BuaBS]

3 hours ago, ChrisY1 said:

So they just print more money?

No this is Thailand , not a banana republic/union like the US , UK , EU, Zimbabwe , Venezuela , China , Japan ,.....

[TallGuyJohninBKK]

Since we're talking Songkran here, how much lao khao, ya dong and smokes does 25 billion baht buy these days?

 

 

[ratcatcher]

9 minutes ago, TallGuyJohninBKK said:

Since we're talking Songkran here, how much lao khao, ya dong and smokes does 25 billion baht buy these days?

Planning a party?

[jippytum]

Central bank prepares 25 billion baht cash for banks to cope with holiday spending during Songkran

Sadly a large portion will be spent on hospital bills and funeral arrangements caused by drunken incompetent drivers and motorcyclists who refuse to wear helmets

[StayinThailand2much]

4 hours ago, BuaBS said:

No this is Thailand , not a banana republic/union like the US , UK , EU, Zimbabwe , Venezuela , China , Japan ,.....

Yes, Thailand is more like Somalia, South Sudan, Afghanistan, or Yemen... 

[Krataiboy]

21 hours ago, ChrisY1 said:

So they just print more money?

As usual. Only mostly these days, it's digital and not worth the paper it is not written on.

[overherebc]

21 hours ago, FritsSikkink said:

No, like any central bank in the world they have that in their faults.

Is the spelling of the last word intentional?

??