BOT organizes FX risk management training for SMEs entrepreneurs

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BOT organizes FX risk management training for SMEs entrepreneurs

 

   

BANGKOK, 23 April 2019(NNT) - For small and medium-sized enterprises or SME entrepreneurs who are involved in international trade and have to cope with currency fluctuations, the Bank of Thailand or BOT has organized the FX risk management program for SMEs, which requires the SME operators to buy currency insurance for 50,000 baht per enterprise, but they must also attend training to enhance their financial knowledge.

 

Ms. Wachira Aromdee, Assistant to the Governor for Financial Markets, BOT, said today that over 27,000 out of more than three million SME entrepreneurs are in the export sector and they often face exchange rate problems due to a lack of knowledge in managing the risk of fluctuating currencies combined with inaccessibility to a protective tool.

 

Therefore, the BOT has cooperated with the Ministry of Industry, the Office of Small and Medium Enterprises Promotion or OSMEP and commercial banks to organize the FX Options risk management program to train SME entrepreneurs to know how to limit risks in changing exchange rates. Participants will be granted 50,000 baht per business to be used to buy FX option contracts on a trial basis.

 

However, the number of participants in past training sessions and the value of Fx Options have been lower than the target because many entrepreneurs live in the provinces and have no time to complete the training. So, the BOT and related agencies have provided a training channel via e-Learning which allows the entrepreneurs to understand easily and study anywhere and at anytime. 

 

Entrepreneurs who wish to join the program must be exporters or importers with an income not exceeding 400 million baht per year and must be a member of OSMEP. They are required to register and attend the training by September 20, 2019, and purchase FX Options by September 30, 2019. For more details and registration, please visit EXIM.GO.TH.

 

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