bank thailand limit

Bank of Thailand to Limit Online Gold Trading to Ease Baht Pressure

BANGKOK – The Bank of Thailand will impose a limit on online gold trading by January 29 in an effort to reduce upward pressure on the baht, Governor Vitai Ratanakorn announced on Wednesday. The baht has appreciated 1.2% against the U.S. dollar this year following a 9% rise in 2025, raising concerns over export and tourism competitiveness, the Bngkok Post reported.

Thailand to Curb Gold Trading to Stabilize Baht, Combat Money Laundering

Under the new measure, daily online gold trading is expected to be capped between 50 million and 100 million baht per account. Gold traders will be given time to adjust their platforms before the rules take effect.

Governor Vitai stated that the move aims to reduce currency volatility but may not weaken the baht immediately. The central bank will assess the impact before deciding whether additional measures—such as a special business tax on gold trading—are needed.

“If it’s not necessary, we prefer not to use tax measures,” he said.

Vitai also noted that the bank has been buying U.S. dollars to help align the baht with economic fundamentals, though its ability to intervene is limited. Only about 40% of foreign exchange transactions occur in the onshore market, where the central bank operates, due to currency manipulation regulations.

Recent baht appreciation has been driven in part by gold trading and foreign fund inflows, though broader factors such as geopolitical shifts and a move away from the U.S. dollar remain key influences.

Gold Price Continues to Surge

On Tuesday, the Bank of Thailand also eased rules on foreign income repatriation, raising the transaction threshold from 1 million to 10 million baht. This allows exporters to hold more U.S. dollars without converting them to baht, helping to ease demand for the local currency.

Similar Posts

  • | | |

    AJK officials allege militants among JAAC proteste…

    Authorities in Azad Jammu and Kashmir (AJK) have alleged that militants linked to the banned Tehreek-i-Taliban Pakistan (TTP) were present among protesters associated with the Joint Awami Action Committee (JAAC), amid heightened tensions in the region. AJK Information Secretary Muhammad Rashid Hanif said on Tuesday that the presence of armed individuals and suspected militants had raised serious security concerns as the region prepared for the next phases of its electoral process. Hanif said the government’s primary responsibility was to preserve law and order while ensuring the continuation of the democratic process. He claimed that some individuals involved in the demonstrations were not ordinary protesters but had links with militant groups. During his briefing, the official presented footage showing masked and armed men positioned on the roof of a building. He alleged that militant elements were attempting to exploit ordinary citizens and urged residents to keep away from individuals involved in violence. Hanif further claimed that women and children were being used as human shields. He also rejected social media claims portraying the protests as solely a human rights movement, saying state institutions had information about the alleged presence of militants and other armed groups. AJK police spokesperson and Deputy Inspector General Irfan Kashfi said law enforcement agencies would respond to armed individuals as they would to other militant threats. According to Kashfi, the suspects were carrying sophisticated weapons, including automatic firearms, M-4 rifles, submachine guns and AK-47s. He said initial information also suggested that snipers had been involved in attacks on security personnel. The police official said one police officer had been killed while five others sustained injuries during clashes. He added that authorities had arrested a suspected individual in Rawalakot and recovered a military-grade weapon from his possession. Initial information suggested that the suspect was a foreign national and had allegedly been operating as a sniper. Kashfi maintained that security personnel were responding in self-defence and to protect civilians. Authorities were also investigating individuals suspected of facilitating the alleged militants. AJK Prime Minister Faisal Mumtaz Rathore separately accused armed protesters of deliberately creating unrest and said security personnel had been targeted from strategic positions. He urged residents to avoid the demonstrations, alleging that the unrest was intended to provoke a wider confrontation during the election period. Tensions between the AJK administration and the JAAC have intensified over the past month. The committee has raised several demands, including a proposal to abolish 12 seats in the AJK Legislative Assembly.

  • | | |

    Europe to witness rare total solar eclipse today

    A total solar eclipse is set to occur today, offering skywatchers across parts of Europe an opportunity to witness a rare astronomical phenomenon, according to Arab media reports. The eclipse is being described as the first total solar eclipse visible from Europe since 1999. The event will be particularly prominent in western Spain and Iceland, where observers will have the chance to see the Moon completely cover the Sun for a brief period. The total phase is expected to begin at around 6:27pm local time in the areas where the eclipse will be visible. Near Iceland, the period of totality is expected to last approximately two minutes and 18 seconds, making it one of the key locations for viewing the phenomenon. However, the eclipse will not be limited to areas experiencing totality. Several major European cities are expected to witness a significant partial eclipse. In Madrid and Barcelona, around 99% of the Sun’s disc will be obscured, while Paris is expected to experience approximately 92% coverage. London will see about 91% of the Sun covered, while Berlin is expected to experience an eclipse of around 85%. The exact appearance and timing of the eclipse will vary depending on the location of observers. Parts of Africa, Canada and the United States are also expected to witness the eclipse in its partial form, although the degree of visibility will differ from one region to another. Eclipse not visible in Pakistan Pakistanis will not be able to observe the solar eclipse, as the astronomical event will take place outside the country’s visible path. The Pakistan Meteorological Department (PMD) has said that the eclipse will begin at approximately 8:34pm Pakistan Standard Time. It is expected to reach its maximum phase at around 10:46pm before ending at approximately 12:58am. Since the entire event will occur during nighttime in Pakistan, the eclipse will remain below the horizon and therefore cannot be seen from the country. The Meteorological Department has also indicated that another major astronomical event is expected later this month. A partial lunar eclipse is scheduled for August 28, but this event, too, will not be visible from Pakistan. Solar eclipses occur when the Moon passes between the Earth and the Sun and temporarily blocks some or all of the Sun’s light from reaching certain parts of the Earth. A total solar eclipse occurs when the Moon completely covers the visible disc of the Sun for observers located within the narrow path of totality.

  • | |

    Hilaria Baldwin takes hilarious dig at troll after…

    Hilaria Baldwin has found a funny way to respond to an online troll after initially misunderstanding a comment that was meant as criticism. The businesswoman and wife of actor Alec Baldwin addressed the exchange on Instagram on Aug. 8, turning an awkward moment into a lighthearted joke about her dyslexia and ADHD. Hilaria thought the comment was a compliment The social media comment described Baldwin as “vacuous,” a word meaning empty, lacking ideas or showing little intelligence. However, Baldwin initially read the word differently and thought the commenter had called her “vivacious,” which means lively or energetic. (People.com⁠) In an Instagram video, Baldwin explained that it took her some time to read and understand the unfamiliar word. She then shared the definition with her followers, making the situation even more amusing. Baldwin joked that she had to search for the meaning before she could even become offended by the comment. Her caption added another playful twist, saying that her dyslexia and ADHD had read the word as “vivacious” anyway. (People.com⁠) Instead of responding with anger, Baldwin appeared to embrace the misunderstanding and use humor to turn the negative interaction into something lighter. Baldwin speaks openly about dyslexia The incident also reflects Baldwin’s previous discussions about being neurodivergent. She has spoken publicly about having ADHD and dyslexia, including in her 2025 book Manual Not Included. Baldwin has explained that these conditions can affect different parts of her daily life, including reading, listening, focus, memory and confidence. She has also described how she spent years feeling that she had to work harder in school and struggled with the idea that she was not “smart in the right way.” (People.com⁠) Her latest Instagram post shows how those challenges can sometimes lead to unexpected and humorous moments. Turning internet criticism into humor Social media criticism is nothing new for public figures, and Baldwin has frequently faced comments about her public life. This time, however, the situation took an unexpected turn because she initially interpreted an insult as praise. By laughing about the misunderstanding, Baldwin avoided giving the comment the reaction its writer may have expected. Her response also gave followers a glimpse into how her dyslexia can affect everyday communication. What began as an attempt to criticize Baldwin ultimately became a humorous story she could share with her audience. For the businesswoman, the mix-up became a reminder that sometimes the easiest response to an internet troll is simply to laugh it off.

  • |

    Google’s $15bn India data centre faces green bac…

    VISAKHAPATNAM: Google’s ambitious $15 billion data centre investment in India is facing mounting resistance from environmental groups, residents and legal activists, turning what was expected to be a landmark technology project into one of the country’s most closely watched development disputes. The massive project, being developed in partnership with Indian billionaire Gautam Adani’s group, is under construction in Tarluvada near the coastal city of Visakhapatnam in Andhra Pradesh. Touted as Google’s largest-ever investment in India, the facility is expected to strengthen the company’s cloud computing and artificial intelligence infrastructure while generating an estimated 188,000 jobs. However, critics argue that the economic benefits could come at a significant environmental cost. Water concerns spark protests In recent weeks, environmental activists have intensified protests against the project, warning that the data centre could worsen water shortages in a city already struggling to meet daily demand. Demonstrators, including schoolchildren, have marched through Visakhapatnam carrying banners reading “We Cannot Drink DATA”, while others painted handcuffs over Google’s logo to symbolise what they describe as the environmental consequences of unchecked technological expansion. At a public awareness gathering attended by local campaigners, members of the environmental organisation Green Visakha outlined plans for neighbourhood campaigns and beach demonstrations aimed at increasing public awareness. Raja Rama Mohan Roy, founder of Green Visakha, argued that development should never come at the expense of local communities. “Development should not be at the cost of the livelihood of the people,” Roy said, pointing to government figures showing that Visakhapatnam currently receives around 410 million litres of water daily, despite requiring approximately 480 million litres. Water rationing has become a regular feature of life for the city’s 2.5 million residents, raising concerns about future demand. Legal battle gains momentum Opposition to the project has now reached the courts. India’s Andhra Pradesh High Court this week directed the state government to respond to allegations raised by environmental group Jal Biradari (Water Community), which claims the project could place additional pressure on regional water resources. The court is scheduled to hear the public interest litigation again on August 24. Meanwhile, three additional petitions have been filed before India’s National Green Tribunal by the Human Rights Forum. The petitioners argue that authorities approved the project without conducting sufficient environmental assessments regarding water usage and ecological impacts. Environmental groups are questioning the government’s reported commitment to provide guaranteed water supplies for the project over the next two decades while many residents continue experiencing periodic shortages. Wildlife under threat? Another major concern centres on the project’s location. According to campaigners, the construction site lies only about 860 metres from the Kambalakonda Wildlife Sanctuary, a protected forest known for its biodiversity and home to species including leopards, pangolins, spotted deer and numerous bird species. Activists fear continuous construction, heavy machinery and increased industrial activity could disturb wildlife through noise, habitat disruption and increased human presence. The Andhra Pradesh government, however, insists the development complies with all legal requirements and maintains that the sanctuary is located at a safe distance under existing regulations. Google also said it intends to minimise environmental impacts by installing sound-dampening technologies designed to reduce noise pollution around the facility. Government and Google defend project Despite growing criticism, Andhra Pradesh authorities continue to describe the project as transformational for the state’s economy. Officials rejected accusations that environmental clearances were rushed or that local drinking water resources would be diverted for industrial use. In a statement, the state government acknowledged citizens’ right to protest but said many claims circulating about the project were “incorrect and misleading.” It added that authorities remain willing to examine legitimate concerns and provide clarification where necessary. Google has similarly defended the project, stating that construction will comply fully with Indian environmental regulations. The company said it plans to use advanced air-cooling technology, significantly reducing dependence on water compared with conventional cooling systems used by many data centres. Google also stressed that sustainability remains a key part of its global operations and that the Visakhapatnam facility would be designed to protect local water resources while supporting India’s rapidly expanding digital economy. Global debate over data centres The controversy reflects a broader international debate over the environmental footprint of modern data centres. As demand for artificial intelligence, cloud computing and digital services continues to surge, technology companies worldwide are investing billions in new infrastructure. Yet these facilities often require enormous amounts of electricity and cooling, placing additional pressure on local water and power supplies. Similar concerns have emerged across the United States and Europe, where communities have challenged large-scale data centre developments over resource consumption, environmental sustainability and their impact on nearby residents. For Google, the Andhra Pradesh project represents a major strategic investment in one of its fastest-growing markets. But with legal challenges pending and public protests gathering momentum, the future of the project may depend not only on engineering and investment, but also on the company’s ability to convince local communities that technological progress can coexist with environmental protection.

  • | | | |

    Four Palestinians killed in Israeli raid on West B…

    JERUSALEM: At least four Palestinians were killed and four others wounded after Israeli forces, accompanied by Israeli settlers, launched a raid on a town in the occupied West Bank on Friday, according to Palestinian health officials and local sources. The latest violence took place in the town of Tell, located southwest of Nablus in the northern occupied West Bank, where tensions have continued to escalate amid repeated military operations and attacks by Israeli settlers. The Palestinian Ministry of Health confirmed in a statement that the death toll from the incident had risen to four. It added that four more Palestinians were injured during the assault, with three of the wounded reported to be in critical condition and receiving emergency medical treatment. According to local residents and security sources, Israeli settlers entered the town before Israeli troops moved in, triggering panic among residents. Witnesses said the attackers targeted several residential neighborhoods and opened direct fire at two Palestinian homes. Residents described scenes of chaos as families rushed to take shelter while ambulances struggled to reach the wounded. Emergency crews and local volunteers evacuated the injured under difficult conditions as sporadic gunfire continued in parts of the town. The incident marks another deadly episode in the occupied West Bank, where confrontations between Israeli forces, settlers and Palestinians have intensified in recent months. Rights groups and humanitarian organizations have repeatedly expressed concern over the growing number of civilian casualties and attacks on residential areas. The Palestinian Ministry of Health condemned the killings and called on the international community to take immediate steps to protect civilians in the occupied territories. Palestinian officials have also urged international organizations to investigate the latest incident and hold those responsible accountable. Israeli authorities had not immediately issued a detailed statement regarding the operation or responded to the allegations made by Palestinian officials at the time of reporting. The occupied West Bank has witnessed a sharp rise in violence alongside the ongoing conflict in Gaza, with frequent Israeli military raids, armed confrontations and settler attacks contributing to worsening security conditions across the territory. Friday’s deadly raid in Tell adds to growing international concern over the deteriorating humanitarian situation in the Palestinian territories, as calls for restraint and renewed diplomatic efforts continue to mount. With casualties increasing and tensions showing little sign of easing, fears remain that violence could spread further across the region in the coming days.

  • | | |

    SBP to study daily fuel price impact on inflation

    ISLAMABAD: The federal government has directed the State Bank of Pakistan (SBP) to conduct a comprehensive study on how the daily revision of petroleum prices affects inflation, as authorities seek new measures to protect consumers from rising living costs and volatile global energy markets. The decision was taken during a meeting of the National Price Monitoring Committee (NPMC), which reviewed the country’s inflation outlook and discussed ways to minimise the impact of fluctuating fuel prices on households and businesses. According to officials, the SBP has been asked to prepare a detailed action plan within 15 days to evaluate the inflationary effects of daily adjustments in petrol and high-speed diesel (HSD) prices, following international best practices. The central bank is expected to recommend policy options that could help maintain price stability while supporting economic growth. The committee was informed that the SBP’s primary responsibility is to ensure price stability through effective monetary policy, including the use of interest rates to manage inflation expectations and regulate money supply. Alongside the SBP study, the NPMC instructed provincial governments, Azad Jammu and Kashmir, Gilgit-Baltistan and the Islamabad Capital Territory to strengthen market monitoring and prevent unjustified increases in the prices of essential commodities whenever fuel prices are revised. The committee also expressed concern over excessive pricing of liquefied petroleum gas (LPG), noting that consumers in many areas were paying significantly more than the official rates notified by the Oil and Gas Regulatory Authority (OGRA). Authorities have been directed to intensify monitoring and narrow the gap between notified and market prices. Officials said the recent regional conflict involving Iran had disrupted energy markets, contributing to higher LPG prices despite regulatory efforts. The meeting also focused on the prices of key food items, including tomatoes, chicken, wheat flour and edible oil. Representatives from the Ministry of National Food Security attributed the surge in tomato prices to seasonal shortages, explaining that Pakistan was importing tomatoes from Iran and Afghanistan to meet domestic demand. However, following the closure of the Afghanistan border, officials said additional tomato imports would now be sourced from Romania to prevent supply shortages and stabilise prices. To improve food quality and consumer protection, the Ministry of Science and Technology will work with the Pakistan Bureau of Statistics (PBS) and provincial authorities to develop testing standards for loose milk, dairy products, edible oil and ghee. Accredited laboratories will conduct regular testing, with quarterly reports submitted to the NPMC. The committee also urged authorities to reduce wholesale and retail price disparities across different cities, improve the supply chain for essential goods and work more closely with the private sector to arrange timely imports before seasonal shortages trigger sharp price increases. Officials expressed hope that stronger coordination, tighter market oversight and evidence-based policymaking would help ease inflationary pressures and provide greater stability for consumers in the coming months.

Leave a Reply

Your email address will not be published. Required fields are marked *