Thai central bank allows local investors to invest more abroad

[BANGKOK] Thailand's central bank said on Monday it had further relaxed capital outflow rules, raising the limit that Thai investors can invest overseas to US$100 billion from US$75 billion currently, at a time of a strong baht.

The changes apply to institutional investors and agencies, such as funds and brokerages, under the supervision of the Securities and Exchange Commission, the central bank said in a statement.

The baht has appreciated by 7.9 per cent against the US dollar so far this year, becoming Asia's best performing currency.

REUTERS