Tag: BOT

The Nexus project, led by the Bank of Thailand, aims to enhance cross-border fund transfers by connecting fast payment systems of multiple countries through a central system.

The Bank of Thailand is working on increasing international connectivity of payment systems and promoting the use of digital footprints to improve access to financial services.

In September, the Thai economy saw a slowdown in economic activities, with exports declining and private consumption and manufacturing production decreasing.

The overall Thai economic activity remained at a similar level compared to the previous month. Private consumption slightly increased, mainly in non-durables. Merchandise exports improved across several categories, although some of these improvements were temporary.

In July, Thailand's economy saw improvement, bolstered by exports and tourism, alongside a rise in private investment. Despite this, consumer and business confidence waned, and inflation escalated, primarily due to elevated prices of fresh food.

Thai banking system remains resilient with strong capital and liquidity levels. Second quarter of 2024 saw improved profitability, though there is a need to monitor small SMEs, certain businesses, and vulnerable households for potential NPL risk.

The Thai economy experienced a mixed performance in the second quarter, with expansion driven by the tourism sector and government spending, while facing challenges such as suppressed exports and production in some industries.

The Bank of Japan and the Bank of Thailand have renewed their Bilateral Swap Arrangement, which enables both countries to exchange their local currencies for US Dollars.