labels: Exchange for smaller bills.
The Bank of Thailand reveals that the 5 million baht withdrawal limit has been effective, resulting in a 30% drop in withdrawals. It will continue to enforce the requirement that deposits and exchanges at small banks must disclose the source of funds.
The Governor of the Bank of Thailand revealed that withdrawals exceeding 5 million baht must now include a declaration of the purpose, causing transaction volumes to plummet by nearly 30%. The government will continue to tighten regulations on "deposits and exchanges of small banknotes," requiring disclosure of the source of funds.
