Bank Of Thailand (BoT) To Issue 4 Measures Of Currency Management This Week

BoT to issue 4 measures of currency management this week

BANGKOK (NNT) -- The Bank of Thailand (BoT) will issue a BoT's announcement within this week, to facilitate business operators in foreign currency management.

The announcememt contains four measures including allowing Thai companies to give loans to foreign firms, which are not its associate companies, by up to 50 million USD. Also, Thai individuals/ juristic persons are allowed to give loans in foreign currencies at unlimited amounts to individuals/ juristic persons living abroad.

Secondly, the private sector is allowed to buy immovable properties abroad by 10 million USD a year. Thirdly, the financial amount, in exchanging baht into foreign currencies to be deposited in domestic commercial banks, is extended to 500,000 USD in an account. The outstanding amount in an account previously allowed at 300,000 USD only.

Lastly, juristic persons are allowed to invest directly abroad at unlimited amounts.

-- NNT 2010-09-20