A brief introduction to Bank Of Thailand
The Bank of Thailand was entrusted with the responsibility of all banking operations as per the Bank of Thailand Act, which was proclaimed on 28th April, '42. Thai National Banking Bureau was the name by which Bank of Thailand was known formerly. The bank of Thailand began operating from 10th December, '42.Bank of Thailand issues banknotes:
The bank of Thailand is responsible for issuing banknotes. As per norms laid by the Currency Act B.E, it is obligatory that the bank notes are required to be endorsed by Currency reserves. Bank of Thailand issued the banknotes for the first time in Thailand on September 7th, '02. In early days, the banknotes used to be imported. The Note Printing Works started operating in 1969. The banknotes printed by Note Printing Works included banknotes of all series starting from 11 till date. Presently, the following series of currency notes are in use:- 1000 baht
- 500 baht
- 100 baht
- 50 baht
- 20 baht
Economic Overview:
Recent findings indicate that data pertaining to economy manifested healthy signs in the context of domestic demand. There was a decline in the exports. Nevertheless, economic progress was found to be stable.Services rendered by Bank of Thailand:
Economic information is provided by the Bank of Thailand for individuals handling research and economic analysis.In addition to that , the following services are extended to different individuals:
Provides information about different banking operations.
Provides information on debt and bond tools
Restoring currency notes which are damaged.
Furnishing information pertaining to the Bank of Thailand On line. One may also find information on banking operations by referring to banking NEWS section regularly.
The monetary policy of the Bank of Thailand has the following three subdivisions. They are:
- Pegged exchange rate regime,
- Monetary targeting regime,
- Inflation targeting regime.
