Thai c.bank says dlr/baht market back to normal

- Central Banking staff
- 29 Nov 2000

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The Bank of Thailand said on Wednesday the dollar/baht market had returned to normal after gridlock over the past week as onshore banks scrambled to pare credits to offshore counterparties and funding costs soared.

The central bank stepped in to help end the gridlock this week by allowing a three-day grace period from Monday for onshore banks to conduct same-day non-commercial deals with offshore players - although dollars received from such transactions had to be sold to the central bank at a

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