On Sep. 1, Thai CB revised rules re transactions for non-residents.
Thai CB issued circular 5491/2568 to revise measures to prevent THB speculation.
Aim to limit THB transactions between financial institutions in Thailand and non-residents (NR) who do not have trade or investment transactions in Thailand.
Plus relax the THB transactions of NRs who have trade or investment in Thailand.
In addition, Thai CB issued a number of other circulars, as listed below.
Follows Thai CB Sep. 2023 relaxed rules on THB-related transactions, see #186032.
Also follows Thai CB Jan. 2021 relaxed rules on non-resident qualified firms, #94926.
Documents dated Sep. 1, 2025, received from Thai CB Sep. 2, summarized Sep. 5.
Other Circulars Issued
Thai CB also issued circular 5492/2568 regarding relaxation of measures to prevent THB speculation for non-resident non-financial institutions (NR Non-FI).
Plus, circular 5495/2568 revising reporting requirements for financial institutions to prepare reports on transactions with NRs in the formats and methods prescribed.
In addition, circular 5496/2568 revising the criteria and procedures for the measures to prevent THB speculation for securities companies.
5491 Circular Highlights
Thai CB revokes 9 circulars (issued between 2017–2023) concerning anti-speculation measures including relaxation of measures for non-resident qualified company (NRQC).
Relax restrictions on THB liquidity provision between financial institutions and NRs.
Including allowing loans in THB to NRs under specified conditions, expanding scope of THB-denominated debt securities that financial institutions can buy.
In addition, permitting guarantees of NR transactions and allowing derivative transactions for risk management with residents and NRs.
Adjusts rules on non-resident THB accounts, relax rules for Thai banks’ cross-border branches in neighbouring countries such as Vietnam.
Special provisions for international organizations and UN-affiliated entities with privileges in Thailand.
Allowing securities companies to borrow THB from NRs for business purposes.
5492 Circular Highlights
Specifies circumstances when banks can conduct THB transactions with NR Non-FI.
Including that NR Non-FI has trade or investment in Thailand, has payment obligations in Baht, or are involved in certain cross-border infrastructure projects.
Permitted transactions include THB loans, debt securities, FX derivatives, FX spot, THB borrowing/lending between financial institutions and NR Non-FIs.
5496 Circular Highlights
Specifies that securities firms may engage in THB-related transactions with NRs.
Including borrowing THB from NRs (including parent companies abroad).
Issuing THB-denominated debt to NRs, and using funds for business purposes such as working capital; transactions must not be used for speculation.
Securities firms must submit reports on THB borrowing/lending and NR client money balances via Thai CB’s data acquisition and publication (DAP) system.
Effectiveness
The revised measures will be effective from Dec. 1, 2025.
