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The central bank of Thailand to liberalise forex market

Last year, Thailand welcomed net capital inflows of US$22.6 billion Bt748 billion: $20 billion as trade surplus, $1.5 billion through the bond market and $1.1 billion through the stock market. Inflows boosted foreign reserves, which stood at $134.7 billion as of last November, up from $85.1 billion at the end of 2007.

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The central bank next week will unveil measures for further liberalisation of the foreign-exchange market, facilitating greater outflows to help ease pressure on the baht.”2009 was a challenging year …

Risks persist, though, on fragile global economic recovery,” Bank of Thailand Governor Tarisa Watanagase told a BOT-sponsored conference yesterday.”Capital flows will be more volatile this year. Funds will flow to countries that witness fast recovery. We saw the signals that pressured the baht late last year.

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BOT to ease control on foreign exchange

Excessive inflows can lead to asset bubbles if we’re not careful.”Aside from liberalisation, which will also support Thai companies’ relocation of labour-intensive activities elsewhere, currency-hedging tools will be offered to entrepreneurs, in order to ensure reasonable cost.Last year, Thailand welcomed net capital inflows of US$22.6 billion Bt748 billion: $20 billion as trade surplus, $1.5 billion through the bond market and $1.1 billion through the stock market. Inflows boosted foreign reserves, which stood at $134.7 billion as of last November, up from $85.1 billion at the end of 2007.

via BOT further liberalises forex market .

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