Ms. Wachira Aromdee, Assistant Governor Financial market line Bank of Thailand (BOT) revealed that The BOT allows foreign juristic persons to be more flexible in Thai baht transactions with local financial institutions (onshore). Under the Non-resident Qualified Company (NRQC) program, a foreign juristic person is obliged to accept or pay Thai baht from trade and direct investment in Thailand. And does not engage in financial and gold business Which project participants will benefit as follows
1. Able to manage the baht risks more conveniently and flexibly. Without documenting evidence And there is a wider scope of transactions such as swap or forward transactions by using estimates of future income and expenses. Or use overall financial statements (balance sheet hedging)
2. Able to manage the baht liquidity flexibly. Without limitation of Thai baht account outstanding for non-residents. (Non-resident Baht Account: NRBA) from the original limit of the outstanding amount not exceeding 200 million baht.
The above projects will make it more convenient for foreign juristic persons to conduct Thai baht transactions with local financial institutions. As a result, the need for borrowing baht decreased. The BOT has therefore lowered the outstanding amount of Thai baht liquidity release of domestic financial institutions to non-resident individuals who are non-residents in the country, which will also help support domestic transactions under the NRQC scheme.
This is part of a push for a new FX ecosystem through the restructuring of Thai baht transactions in the country. Which will increase both the number of transactions Especially foreign juristic persons And the liquidity of the domestic exchange rate market Including to facilitate effective data tracking
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