Thai Central Bank Moves to Limit Gold Trades as Baht Surges

Thai Central Bank Moves to Limit Gold Trades as Baht Surges

BANGKOK, Jan 23, 2026 — Thailand’s central bank said it will impose caps on online gold trading by Jan. 29 in a bid to rein in the baht’s recent surge, which authorities warn is hurting export and tourism competitiveness.

The Bank of Thailand said daily online gold transactions will likely be limited to 50 million to 100 million baht ($1.6–$3.2 million) per account, with Vitai Ratanakorn saying gold trading has been a key driver of the currency’s sharp appreciation. The baht is up about 1.2% so far this year after gaining roughly 9% in 2025.

The central bank said the new rules are expected to reduce volatility and upward pressure on the currency, though any immediate weakening is unlikely, adding it will assess the impact before considering additional measures such as a specific tax on gold trading.