Bank of Thailand

The Bank of Thailand (BOT) (Abrv: ธปท.; Thai: ธนาคารแห่งประเทศไทย, RTGS: thanakhan haeng prathet thai) is the central bank of Thailand.

Bank of Thailand
ธนาคารแห่งประเทศไทย
Seal of Siam Devadhiraj, guardian deity of Thailand holding a money bag and a sceptre
Seal of Siam Devadhiraj, guardian deity of Thailand holding a money bag and a sceptre
Seal of Siam Devadhiraj, guardian deity of Thailand holding a money bag and a sceptre
Bang Khun Phrom Palace
HeadquartersPhra Nakhon, Bangkok, Thailand
Coordinates13.7689°N 100.5009°E / 13.7689; 100.5009
Established28 April 1942 (legal)
10 December 1942 (began operations)
GovernorSethaput Suthiwartnarueput
Central bank ofKingdom of Thailand
CurrencyThai baht
THB (ISO 4217)
ReservesUS$243.49 billion (2023)[1]
Bank rate2.5%[2]
Websitewww.bot.or.th

History

The Bank of Thailand (BOT) was first set up as the Thai National Banking Bureau. The Bank of Thailand Act was promulgated on 28 April 1942 vesting upon the Bank of Thailand the responsibility for all central banking functions. The Bank of Thailand started operations on 10 December 1942.[3]

The Bank of Thailand Act, B.E. 2485 was later amended in order to put emphasis on its social responsibility, to create a mechanism to guard against economic crisis, as well as to set up its decision making process to ensure good governance and transparency in the organization. The Bank of Thailand Act, B.E. 2551 came into force on 4 March 2008.

Roles and responsibilities

The Bank of Thailand's mission is to provide a stable financial environment for sustainable economic growth in order to achieve continuous improvement in the standard of living of the people of Thailand.[4]

Governors

The Governor of the Bank of Thailand[5] has a five-year term of not more than two consecutive terms. The Minister of Finance nominates a candidate to the Thai Cabinet. When the cabinet passes a resolution approving the candidate, it is presented to the monarch for his approval.

List of governors
#NameTook officeLeft office
1Prince Vivadhanajaya27 November 194216 October 1946
2Serm Vinicchayakul17 October 194624 November 1947
3Leng Srisomwongse25 November 19472 September 1948
1(2)Prince Vivadhanajaya3 September 19482 December 1948
3(2)Leng Srisomwongse3 December 19483 August 1949
4Dej Snidvongs4 August 194929 February 1952
2(2)Serm Vinicchayakul1 March 195224 July 1955
5Kasem Sriphayak25 July 195523 July 1958
6Jote Guna-Kasem24 July 19583 May 1959
7Puey Ungphakorn11 June 195915 August 1971
8Bisudhi Nimmanhaemin16 August 197123 May 1975
9Snoh Unakul24 May 197531 October 1979
10Nukul Prachuabmoh1 Nov 197913 September 1984
11Kamchorn Sathirakul14 September 19845 March 1990
12Chavalit Thanachanan6 March 199030 September 1990
13Vijit Supinit1 October 19901 July 1996
14Rerngchai Marakanond13 July 199628 July 1997
15Chaiwat Wiboonsawat31 July 19974 May 1998
16M.R. Chatumongol Sonakul7 May 199830 May 2001
17M.R. Pridiyathorn Devakula31 May 20016 October 2006
18Tarisa Watanagase8 November 200630 September 2010
19Prasarn Trairatvorakul1 October 201030 September 2015
20Veerathai Santiprabhob1 October 201530 September 2020
21Sethaput Suthiwartnarueput1 October 2020Present

See also

References
  1. "Total reserves (includes gold, current US$) – Thailand". World Bank. Retrieved 4 July 2021.
  2. "Policy Interest Rate". www.bot.or.th. Bank of Thailand. Retrieved 3 October 2023.
  3. "History of the Bank of Thailand". Bank of Thailand. Archived from the original on 9 July 2021. Retrieved 4 July 2021.
  4. "Roles and Responsibilities of the Bank of Thailand". Bank of Thailand (BOT). Archived from the original on 15 April 2019. Retrieved 4 July 2021.
  5. "List of Governors of the Bank of Thailand". Bank of Thailand. Archived from the original on 12 July 2021. Retrieved 4 July 2021.
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