Speaking after a seminar titled Thailand Blooming 2026 hosted by the Matichon Group on Wednesday (Jan 28), central bank governor Vitai Ratanakorn said the regulator is scheduled to issue a new notification supervising gold trading in baht through mobile applications on Mar 1, reports the Bangkok Post.
Initially the notification will cover three measures: a daily trading limit of up to B50mn per person; a requirement for gold traders to report transactions worth at least B20mn; and additional rules to be announced later, such as prohibitions on net settlement and short-selling transactions.
"The new regulation will not apply retroactively," said Mr Vitai.
"Those who already own gold can sell it as usual. The new criteria will apply only to new gold purchases in baht via digital platforms."
The central bank will continue to monitor gold trading transactions, which are linked to baht movements and could contribute to the currency’s appreciation against the US dollar, he said.
If baht movements remain misaligned with the country’s economic fundamentals, the maximum limit may be reduced to less than B50mn, said Mr Vitai.
In addition, the central bank required banks to report large cash withdrawals per transaction, such as those ranging from 3-5 million baht, instead of digital or cheque-based transactions.
Such activity may be suspicious and potentially linked to illicit funds, he said.
After the regulator sought cooperation from financial institutions, banks reported several suspicious cases, which the central bank is now investigating. If it detects any irregular fund flows, the central bank will take further legal action, said Mr Vitai.
"For example, we identified two suspicious cases involving cash withdrawals worth B250mn and B200mn per transaction," he said.
The central bank is also preparing to issue a new notification to tighten supervision of such transactions, with an announcement expected within two months, said Mr Vitai.
In addition, if the regulator finds irregular fund flows linked to grey money or vote-buying during the general election, it will report the transactions to the Anti-Money Laundering Office and the Election Commission for further action.
Mr Vitai said grey money, the underground economy and weak governance are structural problems that continue to undermine the Thai economy.
As the issuer of banknotes in circulation, the central bank needs to play a greater role in addressing these issues, he said.
Thailand’s economic growth remains below its potential, and households and small businesses are vulnerable. The regulator must address these issues and play a role in supporting economic recovery and growth, said Mr Vitai.
Monetary policy alone cannot resolve the country’s structural problems, which could pose longer-term risks to economic stability, he said.