Bank of Thailand considers caps of B1-10 million per retail customer per shop
The Bank of Thailand is seeking public feedback on proposed cash payment limits for physical gold bar trades at gold shops to improve transparency and oversight of transactions that could affect exchange rates.Cash payments for gold bar transactions between gold shops and retail customers would be capped at a daily 1 million to 10 million baht per customer, per shop, the central bank said in a statement on the proposed rules, which are open for public consultation until Aug 20.
Cash payments for transactions between gold shops would be capped at a daily 10 million to 80 million baht per customer, per shop.
Earlier this year, the central bank introduced rules to curb online gold trades, including a daily limit of 50 million baht per person per platform.
Customers would be required to personally receive or deliver gold bars under the proposal.
