Bt600 billion cash in reserve for New Year’s holiday

0
591

BANGKOK, Dec 21 – The Bank of Thailand (BoT) has reserved Bt600 billion (US$20 billion) in banknotes of various denominations for this month’s holiday season, it was disclosed.

According to the BoT’s forecast, commercial banks in Thailand will have a greater demand for cash in December, as the month filled with holidays.

Commercial banks are expected to withdraw Bt290 billion (US$9.6 billion) in cash and deposit Bt169 billion (US$5.6 billion) in December.

This year’s circulating cash totals Bt1,331 billion (US$44 billion) – a 7 per cent increase from last year.

Bangkok Bank said it will reserve an additional Bt40 billion (US$1.3 billion) cash between December 29 and January 1 for 7,600 ATM outlets nationwide.

Customers can also withdraw cash from more than 200 Bangkok Bank’s micro branches located in shopping complexes during the period.

According to Kasikorn Bank, its cash reserve at 7,529 ATM outlets during the New Year’s holiday will be Bt34.5 billion (US$1.15 billion).

CIMB Thai said it has reserved Bt1.3 billion (US$43 million) for over 500 ATM machines nationwide.

Commercial banks will reopen on January 3.