Better exchange rates, faster payments, reduced regulations, and more options—these are some of the reasons the Bank of Thailand is encouraging investors to use yuan, reports The Nation.
According to The Nation, Chantavarn Sucharitakul, BOT assistant governor for the Financial Markets Operations Group, said there is “more room for trade and investment via the yuan” in business transactions with China and that “Thai investors should learn how to use the currency.”
Chaninat and Leeds has a team of Thai BOI Lawyers to help business start-ups and business projects with the Thai Board of Investment qualifications and application process.
A survey by the Bank for International Settlements (BIS) on foreign exchange turnover in 2013 reveals that the yuan has become the eighth most actively traded currency.
Moreover, Maytee Phanachet, the capital markets product management head at Kasikornbank, is quoted by The Nation as saying, “”For the global trend of surging RMB [renminbi—another name of the yuan] settlement, the yuan has surged to become the second most important in term of international trade currency with L/C [letter of credit].”
Read the full story here.
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