topfield Posted March 20, 2007 Share Posted March 20, 2007 All residents are aware that Thailand has always had exchange control. Even buying a cheque for a hundred dollars at a bank needed a form filled in. The UK Exchange Control Act 1939 ( suspended in 1977 but not repealed) with which most of us Oldies were familar had as its aim the retention of monies in the UK and the building up of foreign reserves . At one time even holiday allowances were strictly controlled and had to be entered in our passports ...50 pounds for a whole year during the 60's. Property overseas could only be bought with special property dollars at a premium of up to 60 percent. All the above logical and rational with a firm purpose in mind.whether you agree with it or not.. So what is Exchange Contol in Thailand all about. ? If Taksin's wife can take out $400M willy nilly as reported in the press today, what is the point of having exchange control here? Anybody care to explain, I am baffled . Is this just a case of TIT as Bernard Trink used to say. ?? Link to comment Share on other sites More sharing options...
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