Please explain the sense KBank's actions if the devaluation rumour is true.

[2long]

In another thread there's a report of KBank refusing to exchange foreign currency, allegedly due to the virus potentially being on banknotes.

Someone mentioned o FB that it could be because the BoT is just about to devalue the Baht.

Now, for me it appears to make sense for the banks to exchange THB before it all goes south. 

Excuse me for being a bit thick and please explain the sense in preventing exchanges before devaluation. I totally understand why it would be less profitable for them after devaluation.

[Kwasaki]

Have the money sent to the bank in baht. 

[Pib]

 

Quote

Someone mentioned on FB that it could be because the BoT is just about to devalue the Baht.

Glad you are using a highly creditable reference/source for the baht devalue rumor.

[saakura]

"Someone" mentioned in a "facebook post" that the Baht is going to be imminently devalued...Umm ok, i am waiting with bated breath. 50 to the usd tomorrow? Follow that fb and keep us informed.

[Chivas]

How can you devalue an already floating currency. Its not pegged to the USD as it was pre 1997

[2long]

I was actually asking what could be the sense in banks holding onto a currency before it may be devalued, and not how valid Facebook news is or whether or not a floating currency could be devalued.

Looks like I came to the wrong place.

Edited March 10, 2020 by 2long