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Thai central bank says eases rules on Thais investing abroad

Friday, August 28, 2015 - 12:54
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Thailand has no need to cut interest rates to counter the impact of China's slowdown on the Thai economy as fiscal stimulus is driving slow but steady growth, the country's central bank governor said on Tuesday.

[BANGKOK] Thailand's central bank on Friday relaxed rules on Thais investing in securities abroad and said it would be able to manage potential fund outflows.

The central bank would allow Thais having more than 100 million baht (S$3.9 million) to directly invest in securities overseas of up to US$5 million per year from 2016, Deputy Governor Pongpen Ruengvirayudh told reporters.

From 2017, Thais will not be required to hold any assets such as bonds, cash and stocks to be allowed to directly invest in such securities, she said.

In April, the central bank announced the easing of capital measures to encourage more capital outflows in a bid to hold down a strong baht.

REUTERS