Currency is weakening about 5% against the dollar due to the coronavirus outbreak. FMTNews
February 28, 2020 9:42 PM
The threshold for proceeds that do not need to be repatriated rises to US$1 million from the current US$200,000, effective March 2, the central bank said in a statement Friday, adding that the “relaxation includes not only export proceeds but also other income as well.” It added that these steps will help firms cut fund transfer costs and manage foreign-exchange risk, while also promoting balance in capital flows and reducing pressure on the baht.
The picture in 2020 is very different, with the currency weakening about 5% against the dollar due to the coronavirus outbreak. That’s made it the weakest over the period in an Asian basket tracked by Bloomberg.
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