Thailand Lifts Cap on Forex Repatriation to Temper Baht Rally

Thailand is loosening rules on bringing foreign earnings home, lifting the threshold by tenfold as authorities step up efforts to rein in the baht, which is trading near a five-year high.

Thai individuals and businesses can now retain up to $10 million per transaction in overseas income, up from $1 million previously, Pimpan Charoenkwan, Bank of Thailand’s assistant governor for the financial markets group, said in a statement Tuesday. Transactions below the new threshold account for about 92% of the total export value, the bank said.