BANGKOK, 9 Feb 2015, The Bank of Thailand has reserved half a trillion baht worth of banknotes for the upcoming Chinese New Year celebration, expecting up to 45 billion baht of the notes to be withdrawn during the festival.
BoT’s Strategy and Planning Director, Sarun Thamrongrat, said that the reserved amount is 2% higher than that of last year, while predicting that consumers would likely withdraw 175 billion baht 2 weeks prior the celebration.
According to the Director, the national bank has also reserved different types of notes for various spending purposes. The bank has already reserved 500 billion baht worth of banknotes since February 3rd.
