Baht appreciation to slow on central bank reforms

On July 23 the BOT said it would allow Thai state enterprises to freely hedge Thai foreign currency debts regardless of maturity. Previously they could hedge for up to one year. It also eased rules on holding foreign currency deposits. Exporters may now hold foreign currency deposits for six months -- up from three months previously.

The BOT will also allow institutional investors to invest in foreign debt securities up to a limit of US$500 million.

Usara Wilaipich, Thailand economist at

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