Thailand Easing Baht Outflow Controlls

[Chao Lao Beach]

My question, how does this effect expats, anyone know?

Does this mean that I will not be DENIED a TT wire from my Thai account to an account in my name abroad now?

The Bank of Thailand (BOT) last week sent a triple whammy to the markets: In a surprise move, it cut its benchmark interest rate by 25 basis-points to 1.5 percent. In its statement, the BOT mentioned its concerns about the continued strength of the baht. That was followed up with the easing of some of the country's capital controls, which will allow more funds to flow out of the country.

Source CNBC - click here

[hhgz]

The BOT move will not affect you in any manner. I'm not sure why you think an outgoing SWIFT transfer would be in peril.

[TheAppletons]

The only way it affects expats is through the depreciation of the baht.

The measures BOT took included raising limits on cross-border transactions by multi-national corporations, Thai companies, and non-resident currency speculators. BOT also announced large increases in the annual allowances for Thai residents to buy overseas property and foreign currencies for deposit. (That's a brief summary from the Financial Times.)

[Pib]

Like TheAppletons said the revised/eased baht controls deal with BIG money outflows usually related to investments/companies; not mom & pop, retail customer money outflows which is small potatoes money.