Thai Central Bank Favors Gold to Shield Its $210 Billion Reserve
- Gold is seen as a better hedge against inflation, war: Alisara
- Value of gold in Thai forex reserves has doubled since 2019
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The Bank of Thailand views gold as a relative safe haven in an era of high inflation and growing geopolitical risks, according to a central bank official, as the Southeast Asian nation seeks to safeguard its $210 billion of foreign reserves from market turbulence.
The Thai central bank has increased its gold holdings over the past three years as it diversified its investments, Deputy Governor Alisara Mahasandana said in an interview last week. She declined to give details of official gold purchases, but central bank data showed the value of bullion in its reserves has doubled since 2019.