Tuesday, December 19, 2006
According to The Nation here the Thai stock market has fallen by nearly 15 percent. This follows moves by the Bank of Thailand to limit currency dealings. Foreign investors bringing in cash worth US$20,000 or more will now need to park 30 per cent of the amount in financial institutions. The money will be fully returned if the cash is taken out of the country after one year. I am glad that I only bought a small amount of Thai Baht at a rate of about 63 to the pound and put the rest in Sterling travellers cheques as the rate is now 69 to the pound!