Number of dud checks dramatically rose last month

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BANGKOK, 24 October 2013 The slower economic activities have caused a dramatic rise of bad checks, according to the Bank of Thailand. 

The central bank has reported that in September the number of bounced checks reached 667,000, more than 11% of the total number issued in the month, equivalent to almost 10 billion baht.

When compared to June’s figure, the number of bad check dramatically surged 21.82%

The household sector spent less during the period as a result of the economic slowdown and the situation might take toll on the business sector, especially small entrepreneurs, most of whom were running out of daily operating cash flow.

However, the BOT has been monitoring the trend closely and the number of bounced checks had not increased to an extent that could affect the current economic conditions.