Thai bank handles transactions in all ASEAN+3 currencies
To aid Thai investors doing business abroad, Kasikorn Bank has become the first bank in Thailand to accommodate transactions in all the currencies of the ASEAN+3 grouping.
Kasikorn Bank Vice President Silawat Santiwisad (Photo: http://nwnt.prd.go.th)
Bangkok (VNA/NNT) – To aid Thai investorsdoing business abroad, Kasikorn Bank has become the first bank in Thailand toaccommodate transactions in all the currencies of the ASEAN 3 grouping.
KasikornBank Vice President Silawat Santiwisad pointed out that trade between Thailandand the ASEAN 3 (including China, Japan and the Republic of Korea) totaled upto 66 trillion THB last year. The figure has prompted the bank to develop asystem allowing financial activities without the need for currency exchange.
From now on, all Kasikorn Bank offices throughout ASEAN and its threepartners will accommodate financial transactions in any of the grouping’scurrencies. The move is in line with the Thai Government policy for Thaiinvestors to accept other regional currencies as a way to avoid issues arisingfrom currency fluctuations and the uncertainty of the US dollar.
It isexpected the bank will handle up to 280 billion THB worth of transactions invarious currencies this year.-VNA
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Kasikorn Bank Vice President Silawat Santiwisad (Photo: http://nwnt.prd.go.th)
