Thai Central Bank Plans to Further Ease Foreign Exchange Controls to Boost Capital Outflows

The Bank of Thailand announced on Tuesday it plans to further relax foreign exchange controls in the second half of the year to boost capital outflows amid a volatile baht.

Assistant governor Alisara Mahasandana told reporters that local investors would be given broader access to purchase foreign assets.

As part of these measures, the central bank noted in a statement that Thai retail investors will be able to invest up to US$10 million in foreign securities, up from US$5 million previously.

It was also said that certain international investors would be permitted to hedge foreign exchange risk with Thai financial institutions.