The Bank of Thailand is seeing less speculation on the baht among foreign investors thanks to measures implemented last month.
The amount of money being stored in Thailand by foreign investors has decreased, it said on Tuesday.
The central bank on July 22 introduced two measures to reduce the outstanding balance of non-residents’ baht deposits for both non-resident accounts for securities and non-resident baht accounts, from Bt300 billion to Bt200 billion maximum per account.
The volume of currency speculation in Thailand has since declined significantly, said the bank’s assistant governor, Vachira Arromdee.
Foreign speculators are more cautious about investing in Thailand, she said.
Thailand, as many other countries do, also requires the disclosure of names of foreign investors wishing to invest in its bond market, she said.
This is in order to understand their intent.
