The Thai government declared earlier this week Thai Queen Suthida’s birthday a new national holiday.
According to the announcement, the new holiday falls on June 3 and is effective immediately.
The government said the birthday of the previous reigning queen Sirikit, August 12, remains a public holiday and Thailand’s Mother’s Day.
For financial institution branches in Narathiwat, Pattani, Yala, Satun, and Songkhla, extra holidays are given for Eidal – Fitr Day (Ramadan Day), Eidal – Adha Day (Raya Hajji Day) announced by the Sheikhul Islam Office, and the Chinese New Year Day if the date does not fall on any of holidays listed above or Saturday and Sunday.
|1.||Tuesday||1st||January||New Year’s Day|
|2.||Tuesday||19th||February||Makha Bucha Day|
|3.||Monday||8th||April||Substitution for Chakri Memorial Day|
(Saturday 6th April 2019)
|5.||Tuesday||16th||April||Substitution for Songkran Festival|
(Saturday 13th April 2019 and Sunday 14th April 2019)
|6.||Wednesday||1st||May||National Labour Day|
|8.||Monday||20th||May||Substitution for Wisakha Bucha Day |
(Saturday 18th May 2019)
|9.||Monday||3rd||June||H.M.Queen Suthida Bajrasudhabimalalakshana’s Birthday|
|10.||Tuesday||16th||July||Asarnha Bucha Day1|
|11.||Monday||29th||July||Substitution for H.M. King Maha Vajiralongkorn |
Phra Vajiraklaochaoyuhua’s Birthday
(Sunday 28th July 2019)
|12.||Monday||12th||August||H.M. Queen Sirikit The Queen Mother’s Birthday|
|13.||Monday||14th||October||Substitution for H.M. King Bhumibol Adulyadej The Great|
(Sunday 13th October 2019)
|15.||Thursday||5th||December||H.M. King Bhumibol Adulyadej The Great’s Birthday /|
National Day / Father’s Day
|17.||Tuesday||31st||December||New Year’s Eve|
1/ Effective from B.E. 2550 onwards, the Asarnha Bucha Day is prescribed as a holiday, in replacement of the Buddhist Lent Day.
2/ Effective from B.E. 2562 onwards, the Mid-Year Closing Day (1st July) is canceled as a financial institution’s holiday, which was originally scheduled to allow financial institutions to do half-year financial statement. However, financial institutions now have a more efficient financial statement system, which can be operated without affecting the services on all channels of financial institutions. Therefore, it is not necessary to prescribe the Mid-Year Closing Day as a financial institutions’ holiday anymore.
3/ For employees of financial institutions to participate in ceremony and other activities during the Royal Coronation of H.M. King Maha Vajiralongkorn.
BOT relaxes rules to Curb Strong Baht
the Bank of Thailand (BOT) decided to relax regulations to facilitate capital outflows to help promote capital flow balance and lessen pressure on the baht.
The Thai baht has been under pressure due to imbalanced capital flows in the current environment of highly uncertain and volatile external conditions, the Ministry of Finance (MOF) and the Bank of Thailand (BOT) decided to relax regulations to facilitate capital outflows to help promote capital flow balance and lessen pressure on the baht.(more…)
Bank of Thailand cuts rate by 0.25% to 1.25 per cent
The latest cut brings the Bot’s policy rate to an historical low, which the bank maintained from April 2009 to July 2010 during the subprime global financial crisis.
On 6 November 2019, the MPC voted 5 to 2 to reduce the policy rate by 0.25 percentage point from 1.50 to 1.25 percent, effective immediately. Two members voted to maintain the policy rate at 1.50 percent.(more…)
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The development is credit negative because Thailand’s export-oriented economy is in a difficult external environment given that a broad-based export slowdown and strong Thai baht are weakening the competitiveness of goods exporters and the country’s tourism industry.
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