In anticipation of the orgy of spending expected to take place during this year’s Songkarn holiday, the Bank of Thailand (BoT) has significantly increased its on-hand cash reserves.
In a statement to the National News Bureau of Thailand, Nopporn Pramotnee, Deputy Director of the Bot, said that the institution had prepared THB300 billion in cash for use during Songkran – an amount equivalent to the bank’s typical, three-month cash reserves.
Bangkok Bank Public Company Limited, also expecting a spending spike during Songkran, has prepared THB45 billion for distribution to ATMs throughout the nation.
