Forex operators plead for help in tourist-free times

By THE NATION

 

 

Currency exchange operators asked the government to help them on Thursday (April 30), saying their business had been hit hard by restrictions imposed to fight the virus pandemic.

 

The Thai Association of Foreign Exchange (TAFEX) told the Centre for Covid-19 Situation Administration that the lockdown of shops and venues and the flight ban had taken a severe toll on currency exchange operations, since their business is directly connected to tourism.

 

TAFEX, led by its president Somchai Phipathananunth, added that the government had not ordered currency-exchange booths to be closed, so operators were not eligible to receive government compensation that is being handed to businesses ordered to shut.

 

The association wants short-term interest-free loans to boost liquidity, and a suspension of the special business tax for forex operators.

 

It also asked the government to allow electronic transactions as a way of supporting operators with capacity.

 

Source: https://www.nationthailand.com/news/30387067

 

-- © Copyright The Nation Thailand 2020-04-30

 

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Oh dear just need to put a stitch in my side????

In exchange for what? Reduced spreads? Then maybe.

Laughed so much a bit nearly popped out.

what was there commission/mark up on the exchange rate ? no savings at all....hummm tough luck

1 hour ago, webfact said:

The Thai Association of Foreign Exchange (TAFEX) told the Centre for Covid-19 Situation Administration that the lockdown of shops and venues and the flight ban had taken a severe toll on currency exchange operations, since their business is directly connected to tourism.

you are not alone

What I don't understand is why the banks closed all the exchange branch's 

If worried about being in contact with notes that could carry the virus for a couple of days, then  is the local currency virus proof   

This is what I call brazen.

The Numero Uno forex company was called "Super Rich co. Ltd".

Edited April 30, 20206 yr by saakura

2 hours ago, saakura said:

The Numero Uno forex company was called "Super Rich co. Ltd".

Chinese owned company.

 

 

 

9 hours ago, saakura said:

The Numero Uno forex company was called "Super Rich co. Ltd".

Are they open in Chiang Mai? 

13 hours ago, Grumpy one said:

What I don't understand is why the banks closed all the exchange branch's 

If worried about being in contact with notes that could carry the virus for a couple of days, then  is the local currency virus proof   

There's a massive push for a cashless society nothing to do with the virus on cash..