(BangkokPost.com) - Central bank on Friday decided to remove the 30% reserve requirement on short-term capital inflows imposed by the previous government.
Central bank governor Tarisa Watanagase said that the lift will be effective from Monday.
"The central bank decided to lift the capital controls because of the improving economic situation," she said.
The controls were imposed during the Surayud Chulanont administration in an attempt to control the appreciation of the baht against the dollar.
The controls required 30% of all incoming investments to be held by financial institutions for up to one year.
Central bank lifts capital controls.
Thats a start.
The dual baht system was only setup by the military for them to make a rapid killing before "democracy" returned to Thailand and the "politicians" can make a bigger killing.
Apologies to all ... for it is national cynics day today!
The dual baht system was only setup by the military for them to make a rapid killing before "democracy" returned to Thailand and the "politicians" can make a bigger killing.
Apologies to all ... for it is national cynics day today!
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Indeed, the hypocrisy and mendacity knows no bounds:
http://www.huahinafterdark.com/forum/th ... 60-15.html
http://www.huahinafterdark.com/forum/th ... 60-15.html
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson