The exchanges against the dollar against the US dollar fluctuated sharply, which caused a certain impact on the smooth operation of Thailand's economy.Bloomberg reported on the 7th that Thailand plans to use more RMB (7.2073, 0.0013, 0.02%) and other Asian countries in investment and trade to reduce the impact of the volatility of the BAC's exchange rate volatility.
The Assistant President of the Bank of Thailand's financial market operation, Alzara, introduced the recent measures taken by Thailand in an interview with the media, including strengthening communication with the People's Bank of China, increasing the liquidity of RMB, and promoting local banks to reduce the cost of RMB transaction.
At the same time, the Central Bank of Thailand is also actively promoting the use of the use of Indonesia's Shield, Malaysia Lynch (4.5720, 0.0030, 0.07%) and other neighboring countries.Asian currencies including Shield, Linkt, etc.
China is the largest trade and investment partner in Thailand. The bilateral trade volume for Renminbi has been growing in recent years.Data show that in 2015, bilateral trade priced in RMB only accounted for 0.3%of the total bilateral trade, and last year's number rose to 1.2%.
Alizala said that the business community is currently exploring other currencies other than the US dollar to carry out trade activities to reduce the open attitude of foreign exchange risks, which is conducive to further expanding the scope of the use of RMB.Alshara also said that since last year, the exchange rate fluctuations in the dollar of Thai baht have increased, and more tools must be used to respond to exchange rate fluctuations. "It is difficult to reduce the use of US dollars, but this does not mean that we cannot work in this direction.There should be alternatives to respond to foreign exchange risks. "
