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More Bangkokians Using Pawnshops


george

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More Bangkokians using pawnshops, hocked goods rise by 25% in past nine months

BANGKOK, July 15 (TNA) - The total value of goods pawned by residents of the Thai capital rose nearly 25 per cent during the first nine months of the 2006 fiscal year (October 2005-June 2006), as compared to the same period last year, according to Bangkok Metropolitan Pawnshop Director Boonlert Pattanaroong-anothai.

The value of treasured personal possessions pawned in Bangkok in May alone rose 41.04 per cent, to the highest level reported in the past decade, said the Bangkok's top pawnshop official.

He said Bangkok's pawnshops received about Bt4.38 billion from personal items pawned between October last year and June this year, an increase of Bt859 million from the corresponding period of 2005.

Cumulative valuables in pawnshops increased to approximately Bt1.75 billion (about US$46 million) during the first three quarters of the current fiscal year due to the local economic slowdown, rising oil and gold prices, he said.

People pawned valuables worth Bt444.99 million in June, during the World Cup, an increase of almost 13 per cent from June 2005, said Mr. Boonlert.

June pawn level was, however, Bt163 million less than that of May when schools reopened for the new academic year.

--TNA 2006-07-15

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