Thailand's business operators urged to trade in yuan with China

BANGKOK, July 18 (TNA) - The Bank of Thailand (BOT) has encouraged and supported local business operators to trade with China in yuan, the Chinese currency, to ease their foreign exchange risks and to expand their businesses simultaneously. BOT Assistant Governor Chantawan Sucharitkul told participants in a business seminar, held in Bangkok on Friday, that the central bank has persuaded the Thai private sector to increase their trade and investment with China in yuan, following support given by Beijing. Chantawan acknowledged that there might be “some limitations” in the beginning, but, given the immense Chinese economy with its rapidly growing trade and investment with Thailand, now becoming the Kingdom's largest trading partner at 14 per cent of total Thai export value, along with rising support and use of yuan by local financial institutes, the increased use of yuan could help cut both costs and foreign exchange risks. (TNA)