Bangkok (VNA) – The Bank of Thailand (BoT), together with major gold traders in the country, is planning to establish a USD-denominated gold trading platform in an effort to mitigate pressure on the local currency.
As reported by Thailand's English news site The Nation, Kritcharat Hirunyasiri, executive chairman of MTS Gold (Mae Thong Suk), said a meeting on January 6 between the BoT and 14 major gold traders made positive progress on a plan to develop a gold-trading platform using the USD as the main currency, expected to take no more than six months and possibly finish sooner – within the first half of the year.
The THB began 2026 on a stronger note, supported by a rise in global gold prices, as the USD weakened.
The currency ended 2025 with a rapid appreciation, marking a new five-year high after a volatile year, finishing at 31.02 per USD. Over the full year, it strengthened 9.42% from around 34 at the start of the year, helped by a softer dollar, foreign-currency selling by the gold trade after gold prices surged, and foreign inflows into Thai bonds./.
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