BOT takes new swipe at baht speculators

The Bank of Thailand (BOT) has introduced another measure to discourage baht speculation that will limit how much Thai currency may be bought without underlying transactions, and it says it plans to monitor non-resident baht accounts more closely. A non-resident baht account is where non-residents park their baht-denominated funds before investing in the local market.

The BOT will impose a penalty on financial institutions which serve non-resident customers seeking to obtain more than Bt50 mil