BANGKOK: The Bank of Thailand will ease foreign-exchange rules to let individuals invest in products linked to foreign exchange and buy foreign currency of up to US$5 million per person.
The move, part of the second phase of the Capital Account Liberalisation Master Plan, aims to broaden investment alternatives for retail investors and diversify risks. The second phase of the master plan, which began last year, runs until 2017.
The new regulations will take effect from April 18, the central bank said in a release. Under the eased regulations, local commercial banks are permitted to offer structured notes, whose returns are linked to exchange rates, to retail investors.
Individuals are also allowed to engage in derivatives transactions linked to foreign exchange rates but not involving the baht. Money transfer agents’ qualifications have also been relaxed to widen people’s choices in transferring money overseas through electronic channels.
