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Thai chief says to ease FX rules, baht rises
June 5, 2017 / 7:41 AM / 6 months ago

Thai chief says to ease FX rules, baht rises

BANGKOK, June 5 (Reuters) - Thailand’s central bank said on Monday it would relax foreign exchange rules, including allowing more Thais to directly invest abroad, as policymakers try to hold down the baht’s strength.

The central bank will allow investors with assets of at least 50 million baht ($1.47 million) to directly invest in securities abroad, it said in a statement.

Commercial banks will also be allowed to lend baht to non-residents for investment in Thailand and the Greater Mekong sub-region, it said.

The baht appreciated further to 33.98 against the dollar, a near 23-month high, after the announcement, from 34.05 in early trade.

$1 = 34.0000 baht Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Jacqueline Wong

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