BOT revokes capital control measure

The measure has been in place since December 18, 2006.

Ahead of the press conference at 4pm, Amara Sriphayak, senior director of the bank's domestic economy department, on Friday said that many factors support the removal.

 "There are many factors supporting the removal of the capital controls but we need to wait and see how to remove them and when," she said.

 The Samak government is now waiting for the central bank's information on the pros and cons of the measure. It has looked into the possibility of removing the measure, as a gesture to foreign communities that Thailand welcomes foreign investment.

 There are fears that in light of persistent weakening US dollar, the removal would encourage inflows to Thailand which would further push up the Thai baht and hurt the export sector.

- The Nation