ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
International relations

Japan and Thailand work to increase direct currency trading

Asian countries look to curb the region's dependence on the dollar

Thailand currently restricts holdings of its currency by overseas residents.   © Reuters

TOKYO -- Japan's Finance Ministry and the Bank of Thailand will sign a memorandum Friday to expand direct exchanges between the two countries' currencies, a step toward reducing the region's dependence on the dollar.

The baht usually is converted into the dollar before it can be traded for the yen, and vice versa. A direct exchange between the baht and the yen means smaller transaction fees for traders and lesser risk associated with American monetary policy.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more