Bank of Thailand penalises investors pulling out within 1yr
Published on Tue, Dec 19, 2006 at 13:28 | Source : Moneycontrol.com
Updated at Tue, Dec 19, 2006 at 16:42
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Bank of Thailand penalises investors pulling out within 1yr
The Bank of Thailand has come out with capital control measures which penalises investors who pull out money within one year. CNBC-TV18 has more on the bank’s new ruling.
The Bank of Thailand has come out with capital control measures which penalises investors who pull out money within one year. CNBC-TV18 has more on the bank's new ruling.
The Bank of Thailand has notified locking 30% of new foreign currency deposits to curb volatility. Investors buying the baht will only be able to invest 70% of amount.
Investors who withdraw within a year, will be fined 33% of the locked-in 30%. Investors effectively risk 10% of their investment if they pull out within a year.
Investors who withdraw within a year, will be fined 33% of the locked-in 30%. Investors effectively risk 10% of their investment if they pull out within a year.
