BANKThailand
Royal Gazette
Thailand Banking & Finance News
Opening a Thai bank account as a foreigner, keeping one open, and moving money in and out. Also the exchange rate, and the rules banks apply to non-residents, which change quietly and are often not announced in English at all. We cluster the Thai and English reporting and refresh the page several times a day.
Running situations
- Baht strengthens as interest rates hold
The Bank of Thailand has maintained its benchmark interest rate at 1%, despite the baht strengthening to a near 3-month high against the US dollar, trading around 23.85. This makes foreign income and remittances worth less when converted to Thai baht, impacting the purchasing power of foreigners in Thailand.
3 developments - Baht Weakens Against US Dollar
The Thai Baht has weakened to 33.03 per US dollar, making foreign income and savings more valuable in Thailand. This also means remittances from abroad cost less, though imports may become more expensive.
2 developments - Thai Baht Slumps 8% as Trade Deficit Fears Grow2 developments
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BANKThailand
Royal Gazette
BANKThailand
Royal Gazette
BANKThailand
Baht strengthens to near 3-month high, may rise further
The Thai baht hit 23.85 per dollar, its strongest in over two months, amid US debt worries and a weak dollar. Analysts expect the baht to continue appreciating, potentially reaching 23.03 per dollar, making it more expensive for expats converting foreign income.
Bangkok Post
BANKThailand
Bangkok Post
BANKThailand
Bangkok Post
BANKThailand
Bank of Thailand Overhaul to Tighten Foreigner Banking Rules
The Bank of Thailand is launching its largest regulatory overhaul in 27 years, introducing tougher banking measures that will affect foreigners' dealings, including overseas pensions, property payments, and general banking. Expats should review their banking arrangements and prepare for more intrusive compliance requirements.
Thai Examiner
BANKThailand
Bangkok Post
BANKThailand
Bangkok Post
BANKThailand
Baht Strengthens Past 33 to Dollar on US Data, Yen Intervention
The Thai baht has appreciated beyond 33 baht to the dollar, reaching a six-week high, due to weaker US employment data and a US-Japan intervention to stop the yen's slide. Economists expect the baht to continue gaining in the near term, potentially hitting 32.70.
Bangkok Post2 sources
BANKThailand
Bangkok Post
BANKThailand
Bangkok Post
BANKThailand
Baht hits 15-month low as imports outpace exports
The Thai baht has fallen to its lowest level in 15 months, driven by imports growing faster than exports and a widening current account deficit. This weakens the purchasing power of any foreign income or savings expats convert to baht, and may push up prices of imported goods.
Thai Examiner4 sources
BANKThailand
Bangkok Post
BANKThailand
Cash deposits over 5M baht must show source from Q4
From Q4, bank customers depositing over 5 million baht in cash must disclose the source of funds. This applies to expats with large cash transactions.
Bangkok Post2 sources
BANKThailand
Baht weakens 5-6% on Middle East conflict
The Bank of Thailand reports the baht has fallen 5-6% due to Middle East fighting. The weaker currency supports exports and tourism but means expats' foreign income and savings buy more baht.
Thai Examiner
BANKThailand
Bank of Thailand imposes 5 million baht cash deposit limit
Banks will now require explanation for cash deposits over 5 million baht and expand surveillance on suspicious accounts and luxury property deals. Expats making large deposits should be prepared to provide source details.
Thai Examiner3 sources
BANKThailand
Bangkok Post2 sources
BANKThailand
Thai Examiner5 sources
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Bangkok Post6 sources