You have not yet added any article to your bookmarks!
Join 10k+ people to get notified about new posts, news and tips.
Do not worry we don't spam!
Post by : Saif Rahman
Thailand’s finance ministry is assessing potential regulations on online gold trading, triggered by the baht reaching its highest value against the U.S. dollar in over four years. Officials are concerned that large trading volumes of gold are propelling the baht's rapid increase, which does not fully correspond with the nation's economic fundamentals.
Lavaron Sangsnit, a senior official in the finance ministry, indicated that the Revenue Department would examine the feasibility of implementing a specific business tax on online gold transactions. Additionally, authorities are looking into methods to restrict the volume of gold trading to mitigate undue market influence.
Central Bank Governor Vitai Ratanakorn explained that the surging trading volumes of gold are a significant factor driving the baht's appreciation. He mentioned that the central bank is considering managing online gold transactions along with imposing maximum trading limits on major traders to counter the rapid ascent of the currency.
The central bank has already started taking measures to moderate the baht's increase, including enhanced scrutiny of foreign exchange transactions associated with gold trading and directing commercial banks to vigilantly observe foreign currency inflows. These steps aim to stabilize the baht and avert further distortions in the financial landscape.
Finance Minister Ekniti Nitithanprapas remarked that the robust baht could negatively impact Thailand’s economy, as an appreciating currency might make Thai goods pricier for international buyers, curb tourism spending, and hinder overall economic prosperity.
Through controlling online gold trading and monitoring substantial transactions, Thailand aspires to stabilize the baht and ensure that the currency mirrors the country's economic situation. Officials assured that these initiatives are designed to protect the economy while allowing normal market operations.
This scenario highlights the influence of digital platforms and speculative trading on national currencies. Thai authorities are taking prompt action to manage the situation and prevent long-term economic disparities.
Abhishek Sharma Hospitalised With Stomach Infection, Doubtful for India’s T20 World Cup Match Against Namibia
Indian opening batter Abhishek Sharma has been hospitalised with a stomach infection and is unlikely
Mass Shooting in British Columbia Leaves 10 Dead in One of Canada’s Deadliest Attacks
A tragic mass shooting at a high school and nearby residence in Tumbler Ridge, British Columbia, has
More Than a Ticket Out: How IPOs Are Redefining Value for Startups and Investors
In the evolving startup ecosystem, initial public offerings (IPOs) have emerged as far more than exi
Study Warns Using AI for Medical Advice Is ‘Dangerous’ as Users Get Inaccurate Health Guidance
A major new study reveals that artificial intelligence (AI) chatbots and tools may give misleading o
Top Sci-Fi Movies Streaming on Netflix This February: Must-Watch Picks for Genre Fans
A curated news-style guide to the best science fiction films currently available on Netflix in Febru
BCCI Central Contracts Shake-Up: Kohli, Rohit Moved to Grade B as Board Reshapes 2025–26 List
Virat Kohli and Rohit Sharma have been placed in Grade B in the BCCI’s 2025–26 central contract list
