Home Business National Bank issued 3 measures to extract strong baht to open the way of money outflows the country Dark Bond Investment: PPTVHD36

National Bank issued 3 measures to extract strong baht to open the way of money outflows the country Dark Bond Investment: PPTVHD36

by news dir

Gold price today – 20 Nov 20 open the market does not change the price.

The BOT prepares to issue measures to control the value of the baht

On 20 Nov 2020, Ms. Wachira Aromdee, Assistant Governor Financial market line Bank of Thailand (BOT) revealed that in the past External factors including the outcome of the US presidential election And progress in the development of a vaccine against COVID-19 Causing foreign investors to have more confidence in the global economy Therefore return to invest in assets of emerging market countries including Thailand As a result, the baht appreciates rapidly, which may affect the economic recovery that is still fragile. The BOT has closely monitored the situation and continued to monitor the exchange rate market in order to reduce the fluctuation of the baht. To help relieve the pressure on the baht and solve structural problems for the Thai exchange rate market. To help capital move more balanced, the BOT agrees that measures should be taken as follows:

1. Open for Thai people to deposit foreign currency freely (Foreign Currency Deposit : FCD) And transfer money between accounts FCDOf Thai people freely This will help exporters to manage their foreign currency and manage foreign exchange risk more flexible. Able to do transactions via electronic system Help reduce the cost of transferring money and making payments. As well as enabling Thai people to diversify their investment in foreign currency assets more conveniently, such as investing in foreign securities. And gold trading in US dollars

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2. Adjust rules and procedures for investing in foreign securities. Both in terms of credit and investment products to increase investment options for Thais and encourage more diversification of investment risks, including

– Increased investment limit for retail investors to invest directly to 5 million US dollars per year from 200,000 US dollars per year and no limit on investment in foreign securities invested through domestic intermediaries such as securities companies. And asset management companies

– No limit on investment limit in foreign securities for investors under the supervision of the Securities and Exchange Commission (SEC).

– Open for foreign securities trading in Thailand without limit, such as index funds (ETF) that can reference foreign securities.

3. Registration of identification for trading debt instruments (Bond Pre-trade Registration) Thai bond investors must register their identity before trading, allowing the BOT to identify and monitor investors’ behavior closely. This will enhance the monitoring of information and enable the BOT to implement policies in a timely and precise manner, which is consistent with the actions of many countries such as South Korea, Malaysia, Taiwan.

The measure is part of a plan to build a new FX ecosystem at the Ministry of Finance. The Securities and Exchange Commission and the BOT push together holistically To solve the structural problems of the Thai exchange market sustainably

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