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Fx Regulation And A/c Opening


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I have done some research but still have no idea of the following. Could somebody help me out.

1. Is Baht freely convertible in Thailand? Any restriction on conversion/remittance of Baht and other hard currencies?

2. Can a overseas institution, which is outside Thailand, open an account with Thai banks? This account might be in Baht or usd.

Any input is highly appreciated.

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