Bangkok:The Governor of the Bank of Thailand has announced the implementation of stricter controls on cash transactions exceeding 5 million baht, which will take effect on November 1, 2026. This decision comes as the Governor marks one year in office, with a focus on addressing financial stability and household debt.

According to Thai News Agency, Governor Witai Rattanagorn outlined the results of the past year, highlighting a reduction in the policy interest rate from 1.50% to 1.00% and measures to manage exchange rate volatility. The Bank of Thailand also tackled structural issues through the supervision of financial institutions, focusing on household debt, SME credit access, fairness in financial services, and preventing illicit activities.

The introduction of 18 measures has led to significant outcomes, such as a 57% reduction in cash withdrawals exceeding 5 million baht and an 85% decrease in large gold withdrawals compared to January 2026. The new controls require financial institutions to report transactions that appear unusual or inconsistent with customer behavior to prevent being exploited for criminal activities.