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Bank of Thailand

Monetary authority of Thailand

Monetary authority of Thailand

FieldValue
bank_name_in_localธนาคารแห่งประเทศไทย
logoSeal of the Bank of Thailand.png
logo_size125px
logo_captionSeal of Siam Devadhiraj, guardian deity of Thailand holding a money bag and a sceptre
imageBang Khun Phrom Palace from Rama VIII Bridge.jpg
image_size250px
captionBang Khun Phrom Palace
reservesUS$243.49 billion (2023)
headquartersPhra Nakhon, Bangkok, Thailand
coordinates
established28 April 1942 (legal)
10 December 1942 (began operations)
presidentVitai Ratanakorn
leader_titleGovernor
bank_ofKingdom of Thailand
currencyThai baht
currency_isoTHB
borrowing_rate2%
website

10 December 1942 (began operations)

The Bank of Thailand (BOT; abbr. ธปท.; , ) is the central bank of Thailand.

History

The Bank of Thailand (BOT) was first set up as the Thai National Banking Bureau. The Bank of Thailand Act was promulgated on 28 April 1942 vesting upon the Bank of Thailand the responsibility for all central banking functions. The Bank of Thailand started operations on 10 December 1942.

The Bank of Thailand Act, B.E. 2485 was later amended in order to put emphasis on its social responsibility, to create a mechanism to guard against economic crisis, as well as to set up its decision making process to ensure good governance and transparency in the organization. The Bank of Thailand Act, B.E. 2551 came into force on 4 March 2008.

Project Nexus

The Bank for International Settlements signed an agreement with Central Bank of Malaysia, Bank of Thailand, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore, and the Reserve Bank of India on 30 June 2024 as founding member of Project Nexus, a multilateral international initiative to enable retail cross-border payments. Bank Indonesia was involved as a special observer. The platform, which is expected to go live by 2026, will interlink domestic fast payment systems of the member countries.

Roles and responsibilities

The Bank of Thailand's mission is to provide a stable financial environment for sustainable economic growth in order to achieve continuous improvement in the standard of living of the people of Thailand.

Governors

The Governor of the Bank of Thailand has a five-year term of not more than two consecutive terms. The Minister of Finance nominates a candidate to the Thai Cabinet, who pass a resolution approving the candidate, then it is presented to the Monarch for approval.

List of governors

#NameTook officeLeft office
1 (First term)Prince Vivadhanajaya27 November 194216 October 1946
2 (First term)Serm Vinicchayakul17 October 194624 November 1947
3 (First term)Leng Srisomwongse25 November 19472 September 1948
1 (Second term)Prince Vivadhanajaya3 September 19482 December 1948
3 (Second term)Leng Srisomwongse3 December 19483 August 1949
4M.L. Dej Snidvongs4 August 194929 February 1952
2 (Second term)Serm Vinicchayakul1 March 195224 July 1955
5Kasem Sriphayak25 July 195523 July 1958
6Jote Guna-Kasem24 July 19583 May 1959
7Puey Ungphakorn11 June 195915 August 1971
8Bisudhi Nimmanhaemin16 August 197123 May 1975
9Snoh Unakul24 May 197531 October 1979
10Nukul Prachuabmoh1 Nov 197913 September 1984
11Kamchorn Sathirakul14 September 19845 March 1990
12Chavalit Thanachanan6 March 199030 September 1990
13Vijit Supinit1 October 19901 July 1996
14Rerngchai Marakanond13 July 199628 July 1997
15Chaiwat Wiboonsawat31 July 19974 May 1998
16M.R. Chatumongol Sonakul7 May 199830 May 2001
17M.R. Pridiyathorn Devakula31 May 20016 October 2006
18Tarisa Watanagase8 November 200630 September 2010
19Prasarn Trairatvorakul1 October 201030 September 2015
20Veerathai Santiprabhob1 October 201530 September 2020
21Sethaput Suthiwartnarueput1 October 202030 September 2025
22Vitai Ratanakorn1 October 2025Present

References

References

  1. "Total reserves (includes gold, current US$) – Thailand".
  2. "Policy Interest Rate". Bank of Thailand.
  3. "History of the Bank of Thailand".
  4. Kawale, Ajinkya. (1 July 2024). "RBI, four Asean countries tie up for cross-border payments platform".
  5. "Roles and Responsibilities of the Bank of Thailand".
  6. "List of Governors of the Bank of Thailand".
Info: Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

central-banks independent-administrative-organizations-of-thailand economy-of-thailand banks-of-thailand 1942-establishments-in-thailand banks-established-in-1942 regulatory-authorities-of-thailand
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