BoT details efforts to curb gold-related FX volatility
Financial institutions given new timeframe to verify gold transactions, with further measures planned
The Bank of Thailand (BoT) has detailed stricter regulations for financial institutions amid concerns about the impact of increased gold trading on the baht exchange rate.
According to the minutes of its most recent monetary policy meeting, published today (January 5), the bank told financial institutions on December 15 to increase oversight of forward foreign exchange selling by major gold traders. The Thai currency appreciated by nearly 8% last year, according to the BoT, as gold prices rose to
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