Thailand's central bank said on Monday it raised the limit on overseas transfers by money agents to facilitate the ease of doing business, as the baht hovered near a 3-1/2-year high against the dollar. They now can transfer up to 800,000 baht ($25,039) per day per customer, up from 200,000 baht previously, effective from January 12, Assistant Governor Vachira Arromdee said in a statement.
The move, in accordance with the central bank's foreign exchange control reform adopted since mid-2017, will increase flexibility for individuals and small- and medium-sized businesses, she added. The baht traded at 31.95 per US dollar, having risen by 2.1 percent so far this year after increasing 9 percent in 2017.
The strong baht has worried exporters, and the Bank of Thailand said last week it had acted when the baht was rising too fast to ease the impact on businesses.