Finance
Thailand finance guide—economy updates, banking, taxes, and smart money management. Stay informed on financial trends, investment insights, and practical tips for navigating Thailand’s financial landscape.
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Finance minister reveals final contenders to lead Bank of Thailand
Deputy Prime Minister and Finance Minister Pichai Chunhavajira confirmed yesterday that he has officially signed off on his nominee to lead the Bank of Thailand (BoT) and submitted the selection to the Cabinet for consideration today. Speaking to reporters, Pichai made it clear he had no reservations about collaborating with whichever candidate ultimately gets the nod. “Whoever is selected, I’ll…
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Thai US tax talks stall as Vietnam races ahead
Thailand’s hopes of clinching a breakthrough tax agreement with the United States have hit a stumbling block, leaving officials scrambling for solutions—and exporters nervously watching from the sidelines. Deputy Prime Minister and Finance Minister Pichai Chunhavajira admitted yesterday, July 4, that the much-anticipated deal remains out of reach despite days of high-level negotiations in Washington. Speaking during a stopover in…
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Red Bull tycoon tops Thailand rich list with US$44.5 billion fortune
Red Bull really does give you wings—especially if your name is Chalerm Yoovidhya. The co-owner of the world-famous energy drink has officially been crowned Thailand’s richest man this year, boasting a staggering net worth of US$44.5 billion (1.4 trillion baht), according to Forbes magazine. Chalerm’s jaw-dropping fortune saw an eye-watering leap of US$8.5 billion, marking a 24% surge from the previous year.…
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EC Markets makes waves at the iFX Expo International 2025 in Limassol
The vibrant city of Limassol, Cyprus, has once again hosted one of the biggest and most important events in the world of finance and fintech: the iFX Expo International 2025. With over 6,000 professionals and 1,600 companies gathering from around the world, the iFX Expo was a week of high-energy filled with fresh, innovative ideas, tech startups, and big announcements!…
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Reforms urged for Bank of Thailand amid global financial shifts
The dean of the Faculty of Economics at the University of the Thai Chamber of Commerce has proposed significant changes to the role of the Bank of Thailand (BoT) to better align with internal economic dynamics and navigate global financial volatility. On June 22, Anusorn Tamajai made a suggestion yesterday, June 22, for the BoT to reconsider its exchange rate…
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The future of Thailand’s startup ecosystem: Trends, tech & talent
Thailand is quickly becoming one of Southeast Asia’s top destinations for startups. While the country was once known mainly for tourism and manufacturing, it’s now gaining attention for its growing tech-driven entrepreneurial scene. Government support, a young and skilled workforce, and a booming digital economy are driving this change. Cities like Bangkok and Chiang Mai are emerging as hubs of…
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Scam alert: Fraudsters pose as SCB agents to freeze your account
Siam Commercial Bank (SCB) is sounding the alarm over a new scam targeting unsuspecting customers, where fraudsters impersonate bank staff and trick victims into freezing their accounts. The bank issued a public warning this week after receiving reports of con artists calling or messaging customers to ask if they had authorised someone else to open an SCB account on their…
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Bank of Thailand to name new governor amid challenges
The Bank of Thailand (BoT) is set to appoint a new governor as Sethaput Suthiwartnarueput will conclude his term on September 30. The selection process is crucial, as the new governor will navigate Thailand’s economic challenges and influence monetary policy and financial stability. Applications for the position closed on June 4, with seven candidates in the running. The candidates are:…
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Major disruptions as Krungthai, GSB, SCB announce maintenance
Millions of customers across Thailand are bracing for significant service interruptions as three of the country’s biggest banks – Krungthai, Government Savings Bank (GSB), and Siam Commercial Bank (SCB) – prepare for extensive system maintenance. The planned outages will affect online banking, ATMs, mobile applications, and payment services, leaving many customers scrambling to complete transactions ahead of the disruptions. Krungthai…
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Thailand taxman’s 2-year sweetener to lure overseas millions home
The taxman in Thailand is having a rethink and it could mean a big win for globe-trotting Thais with cash stashed abroad. In a bid to woo back an estimated 2 trillion baht in overseas investments, the Revenue Department is planning a two-year tax holiday on foreign-earned income, so long as it’s brought back into the country pronto. Revenue Department…
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Bangkok Bank’s policy shift: Why the change of heart?
Bangkok Bank, Thailand’s largest commercial bank and one of Southeast Asia’s most prominent financial institutions, has begun freezing accounts and blocking cards belonging to Russian nationals, triggering confusion and concern among the expat and tourist communities across the country. The drastic move, which reportedly began around May 25, follows a newly enforced policy that limits access to banking services for…
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Baht off! Bangkok Bank shuts the door on tourist accounts
Tourists and short-term visitors in Thailand are getting the cold shoulder from Bangkok Bank after the banking giant quietly slammed the brakes on opening accounts for foreigners without long-term visas. Expats and digital nomads are reeling after Bangkok Bank, Thailand’s largest lender, introduced tough new rules barring tourists from opening deposit accounts, applying for credit cards, or using mobile banking…
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Why it’s so hard to open a Thai bank account on a tourist visa
For many foreigners considering long-term residence in Thailand, one of the first bureaucratic barriers they encounter is the challenge of opening a Thai bank account. This seemingly straightforward step becomes a complicated puzzle for those arriving on a tourist visa or visa exemption. Ironically, the very thing required to secure a long-term stay, a Thai bank account with sufficient funds,…
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Hotel gold rush cools this year, but green deals heat up
After a blockbuster year for Thailand’s hotel market in 2024, the pace of property deals is beginning to cool, but savvy investors are turning their eyes to greener pastures. According to global real estate firm JLL, Thailand’s hotel transaction market in 2025 is undergoing a “normalisation” phase, with activity returning to sustainable levels. Following a record-breaking 22 billion baht in hotel…
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TrustFinance: Powering finance businesses worldwide through trust
In the highly competitive and regulation-focused financial industry, trust is not just a value, it is a vital asset. Recognising this need, TrustFinance, a Singapore-based platform tailored specifically for financial businesses, has expanded its global suite of B2B services. These services are designed to support brokers, fintech platforms, investment firms, and other financial service providers in establishing and communicating trust…
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EC Markets takes centre stage at iFX Expo International 2025 in Limassol
In June, EC Markets will undertake initiatives that mark new, decisive steps in its worldwide expansion and consolidation within the financial sector. The company will play a leading role at the now-established iFX Expo International 2025, which will be held from June 17 to 19 at the City of Dreams Mediterranean Resort in Limassol, Cyprus. This year’s iFX Expo is…
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Baht out of luck: Thai currency slips as greenback flexes muscle
The Thai baht is wobbling once again, with currency watchers bracing for a further slide this week as the mighty US dollar gathers steam following a temporary pause in the US-China tariff war. Analysts say the baht could weaken to as low as 33.80 per dollar in the coming days, as uncertainty lingers despite a fleeting boost in global market…
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Navigating high inflation & slow growth: How ECB policy shapes the eurozone’s timid progress
So far, 2025 has proven to be the year of reckoning for the eurozone economy, caught in the crosshairs of high inflation and sluggish growth. In a delicate balancing act, the ECB (European Central Bank) changed course with consecutive interest rate cuts this year, following aggressive monetary policy tightening during the 2022 to 2024 high-inflation period. Coming up are market…
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Bitcoin tipped to smash US$100k as crypto bulls charge ahead
Bitcoin is gearing up for a six-figure breakout, with crypto watchers boldly predicting the world’s biggest digital coin could hit a jaw-dropping US$100,000, even as the US central bank holds fire on interest rate cuts. Despite the Federal Open Market Committee (FOMC) likely keeping rates steady this week, optimism is soaring among investors, thanks to heavyweight institutions snapping up spot…
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Manage trading risk more effectively with HFM’s tools
HFM Group, a regulated, award-winning online broker, takes risk management seriously to provide cutting-edge technology, wide-ranging education, and advanced trading tools to clients worldwide. Their innovative solutions provide enhanced protection against unexpected market movements, offering features such as negative balance protection, customisable stop-loss and profit orders, and real-time risk analysis. With a commitment to enhancing trading experiences, HFM’s risk management…
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Thailand scraps mandatory scout uniforms, ease parents’ burden
Parents across Thailand are breathing a collective sigh of relief as the Ministry of Education announces a major change in school regulations. The compulsory wearing of full scout uniforms will be scrapped, offering much-needed financial respite to families as the new school term approaches. Deputy Education Minister Surasak Phancharoenworrakul made the announcement during a meeting with senior officials today, April…
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Finance Ministry confirms 10,000 baht digital currency distribution
The Finance Ministry has confirmed the distribution of 10,000 baht in digital currency for phase three during the second quarter. The application is ready, with only integration with banks remaining. The release date for phase four has also been announced. Deputy Finance Minister Chulapan Amornvivat yesterday, April 22, stated that the ministry remains committed to its schedule for the economic…
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World Bank backs Thailand’s retirement lottery to boost savings
Thailand’s retirement lottery has received international acclaim, with the World Bank calling it a “remarkable innovation” for boosting retirement savings. The scheme, which cleverly combines the public’s love for gambling with the need for financial security, has sparked significant interest at the World Bank-International Monetary Fund (WB-IMF) Spring Meetings in Washington, D.C. The World Bank has expressed strong interest in…
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FBS brings joy to vulnerable communities during Ramadan
FBS, a leading global broker, proudly concluded its Ramadan 2025 charitable efforts in partnership with SUKA Society in Malaysia and the Peduli Anak Foundation in Indonesia. With a total donation of US$20,000, FBS supported over 400 people across both regions. In collaboration with SUKA Society, FBS provided essential food supplies and Ramadan care packages to vulnerable communities. From March 18…
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EC Markets consolidates its global footprint with strategic expansions
EC Markets continues to reaffirm its commitment to the global financial arena, demonstrating a determination both in expansion and the further consolidation of its presence across the markets of Asia, Africa, and Latin America. This determination, coupled with expertise, innovation, and most notably a respect for the diversity and unique characteristics of regional markets, is underscored by the firm’s recent,…
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Bank of Thailand seeks new governor as Sethaput’s term ends
The Ministry of Finance has initiated the process to select a new governor for the Bank of Thailand (BoT), as Sethaput Suthiwartnarueput’s five-year term concludes on September 30. A selection committee, led by former Finance Permanent Secretary Sathit Limpongpan, will soon convene to establish candidate requirements and the application timeline, according to ministry spokesperson Pornchai Thiraveja. Under Thai law, the…
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Baht to the future: Thai currency eyes 33 mark as dollar dives
The Thai baht is flexing its muscles on the global stage, with experts predicting it may surge past the symbolic 33-per-dollar mark in the second quarter, fuelled by trade tensions, a faltering US economy, and sky-high gold prices. According to Kasikorn Research Center (K-Research), the baht has climbed to a six-month high, riding the wave of a weakening US dollar…
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TrustFinance Business Bangkok 2025: The premier B2B event
TrustFinance Business 2025, the premier business-to business (B2B) matchmaking event for the Forex industry, is set to take place on May 9 in Bangkok, Thailand. The highly anticipated gathering will bring together top Forex brokers, fintech innovators, liquidity providers, payment solutions, and trading technology providers, offering unparalleled opportunities for strategic partnerships and business growth. Connecting the Forex ecosystem for a…
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Q2 2025: Through the looking glass
Q2 of 2025 begins under the shadow of sharp rotations in capital, increased political risk, and growing market segmentation. While US equities and cryptocurrencies struggled in Q1, European stocks, gold, and the yen emerged as havens. Traders now face an increasingly complex global environment marked by softening US growth, surging European confidence, and persistent uncertainty over monetary policy direction. Exness’…
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FXGT supports earthquake relief efforts in Bangkok and Myanmar
FXGT.com has announced its commitment to supporting relief efforts following the devastating earthquake that recently struck Myanmar and Bangkok. The company has donated to Bangkok Community Help Foundation, an organisation actively providing critical aid to those affected by the disaster. The 7.7 magnitude earthquake struck near Mandalay, Myanmar, on March 28 and has left many communities in dire need of…
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