World Economy

Thai Forex Rules Relaxed

Thai Forex  Rules Relaxed Thai Forex  Rules Relaxed

Thailand’s central bank, the Bank of Thailand, is easing the country’s foreign-exchange rules starting from April 18 to allow individuals to invest in products linked to foreign currencies, AsiaFirst reported. The loosened restrictions will also enable investors to buy foreign currency up to $5 million per person, the central bank said in a press statement. The new forex regulation is part of the second phase of the Capital Account Liberalization Master Plan, which seeks to broaden investment alternatives for retail investors.  Under the eased regulations, individuals will be allowed to engage in derivatives transactions linked to forex rates, but not involving the local currency, the baht. The central bank said that people will now also have more choices in transferring money overseas through electronic channels because qualifications for money transfer agents have been relaxed as well. Additionally, the central bank will raise the cap on overseas money transfers to THB200,000 ($5,700) a day per person from the current $2,000.