Thailand to take RMB as forex reserve currency

satsu_jin

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.

weathers

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.

Kbay

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.

Kbay

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.

Kbay

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.

weathers

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.

Kbay

weathers Post time: 2011-11-28 22:33
You are right. I support your opinion.

No hard feeling on my part new member!

weathers

Kbay Post time: 2011-11-28 19:53
And did you know the avatar you have used is an infringement of Andy's rights?
I demand CD remove  ...

Sorry, I have been using this avatar for at least 8 years, and many of my friends know that I am using it. I will not change it. Andy is my idol. I want to be as diligent as him. Each time I see the avatar, I encourage myself to go on working hard. I wish you could understand it. Thanks a lot.