The Bank of Thailand has eased some foreign-exchange rules as part of a previously announced plan to temper the strength of the baht. The threshold for proceeds that do not need to be repatriated rises to US$1 million from the current $200,000, effective from March 2, the central bank said in a statement on Friday. Exporters with proceeds equal to or above the new threshold can use them to offset foreign-currency expenses, without having to repatriate the funds, the central bank said. It added that these steps will help firms cut fund transfer costs and manage foreign-exchange risk, while also promoting balance in capital flows and reducing pressure on the baht. It would also relax rules so that insurance companies can invest abroad more easily.

Source: Bangkok Post February 28, 2020 11:15 UTC