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Views: 3390|Replies: 8

Thailand to take RMB as forex reserve currency [Copy link] 中文

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Post time 2011-11-28 13:05:41 |Display all floors

People's Daily reported that the 'Bank of Thailand' has begun to take CNY into its foreign exchange reserves. This information was given by Prasarn Trairatvorakul, governor of the Thai central bank.

The governor reported that the proportion of the Chinese currency in the country's forex reserves is approx. 1%.  He also stated that if the global liquidity of the Chinese currency increases, the central bank will gradually increase the size of its CNY holdings as forex reserves as well.

Thailand is also planning to use its forex for the purchase of CNY-denominated government-bonds.

The People's Bank of China in meantime has announced that the Bank of Thailand can invest in China’s bond market, having approval for an investment quota of CNY 70 billion.

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Post time 2011-11-28 19:05:38 |Display all floors
Great news. But how to raise the global liquidity of RMB? To make RMB a market-oriented currcy?

We still have a long way to go.
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Post time 2011-11-28 19:48:04 |Display all floors
Yep, well done to Yingluck's Government.
The move will further solidify Thailand's closer friendship with China.
With the big brother by your side, Thailand will prosper.
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Post time 2011-11-28 19:51:51 |Display all floors
weathers Post time: 2011-11-28 19:05
Great news. But how to raise the global liquidity of RMB? To make RMB a market-oriented currcy?

We  ...

Why do you want the renmimbi to a speculative currency for the cowboy?
A stable renminbi will serve the global finance well.
Traders with China worldwide demand a stable Chinese currency.
Only the financial gangsters from Wall Street and the City of London demand our currency be open for them to speculate on.
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Post time 2011-11-28 19:53:05 |Display all floors
This post was edited by Kbay at 2011-11-28 22:36
weathers Post time: 2011-11-28 19:05
Great news. But how to raise the global liquidity of RMB? To make RMB a market-oriented currcy?

We  ...

And did you know the avatar you have used is an infringement of Andy's rights?
I demand CD remove it.
Okay, I suggest CD remove it if they so chose to, since weather is not such a bad guy after all.
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Post time 2011-11-28 22:33:28 |Display all floors
Kbay Post time: 2011-11-28 19:51
Why do you want the renmimbi to a speculative currency for the cowboy?
A stable renminbi will serv ...

You are right. I support your opinion.
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Post time 2011-11-28 22:35:29 |Display all floors
weathers Post time: 2011-11-28 22:33
You are right. I support your opinion.



No hard feeling on my part new member!

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