BOT sets limit on Thai baht exchange

The Bank of Thailand (BOT) has made a major intervention in the markets to stem the soaring Thai baht, setting a reserve requirement on short-term capital inflows that will come into effect Tuesday 19 December.

Starting from Tuesday, financial institutions would be required to withhold 30 pct of foreign currencies bought or exchanged against the baht, except those related to exports, BOT governor Tarisa Watanagase told Agence France-Presse.

The measure follows the Thai currency hitting a new n

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