Bank of Thailand facts for kids
The Bank of Thailand (BOT) is like the main bank for the country of Thailand. It's called a central bank, and its job is to help keep Thailand's money system strong and stable. It makes sure the Thai baht (Thailand's money) is healthy and that other banks work well.
Seal of Siam Devadhiraj, guardian deity of Thailand holding a money bag and a sceptre
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Bang Khun Phrom Palace
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| Headquarters | Phra Nakhon, Bangkok, Thailand |
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| Coordinates | 13°46′08″N 100°30′03″E / 13.7689°N 100.5009°E |
| Established | 28 April 1942 (legal) 10 December 1942 (began operations) |
| Governor | Sethaput Suthiwartnarueput |
| Central bank of | Kingdom of Thailand |
| Currency | Thai baht THB (ISO 4217) |
| Reserves | US$243.49 billion (2023) |
| Bank rate | 2.5% |
Contents
History of the Bank of Thailand
The Bank of Thailand (BOT) first started as the Thai National Banking Bureau. A special law, called the Bank of Thailand Act, was passed on April 28, 1942. This law gave the Bank of Thailand the job of handling all central banking duties. The bank officially began its work on December 10, 1942.
Later, the Bank of Thailand Act was updated. This update, which came into effect on March 4, 2008, focused on the bank's responsibility to society. It also added ways to help protect the country from money problems and made sure the bank's decisions were clear and fair.
What the Bank of Thailand Does
The main goal of the Bank of Thailand is to create a steady money system. This helps the country's economy grow in a healthy way. A strong economy means that people in Thailand can have a better standard of living. The bank works to keep prices stable and make sure the financial system is safe.
Governors of the Bank
The person in charge of the Bank of Thailand is called the Governor. A Governor serves for five years and can be chosen for up to two terms. The Minister of Finance suggests a person for the job. If the Thai Cabinet agrees, the name is then sent to the King for his final approval.
List of Governors
| # | Name | Started Work | Left Work |
|---|---|---|---|
| 1 | Prince Vivadhanajaya | 27 November 1942 | 16 October 1946 |
| 2 | Serm Vinicchayakul | 17 October 1946 | 24 November 1947 |
| 3 | Leng Srisomwongse | 25 November 1947 | 2 September 1948 |
| 1(2) | Prince Vivadhanajaya | 3 September 1948 | 2 December 1948 |
| 3(2) | Leng Srisomwongse | 3 December 1948 | 3 August 1949 |
| 4 | Dej Snidvongs | 4 August 1949 | 29 February 1952 |
| 2(2) | Serm Vinicchayakul | 1 March 1952 | 24 July 1955 |
| 5 | Kasem Sriphayak | 25 July 1955 | 23 July 1958 |
| 6 | Jote Guna-Kasem | 24 July 1958 | 3 May 1959 |
| 7 | Puey Ungphakorn | 11 June 1959 | 15 August 1971 |
| 8 | Bisudhi Nimmanhaemin | 16 August 1971 | 23 May 1975 |
| 9 | Snoh Unakul | 24 May 1975 | 31 October 1979 |
| 10 | Nukul Prachuabmoh | 1 Nov 1979 | 13 September 1984 |
| 11 | Kamchorn Sathirakul | 14 September 1984 | 5 March 1990 |
| 12 | Chavalit Thanachanan | 6 March 1990 | 30 September 1990 |
| 13 | Vijit Supinit | 1 October 1990 | 1 July 1996 |
| 14 | Rerngchai Marakanond | 13 July 1996 | 28 July 1997 |
| 15 | Chaiwat Wiboonsawat | 31 July 1997 | 4 May 1998 |
| 16 | M.R. Chatumongol Sonakul | 7 May 1998 | 30 May 2001 |
| 17 | M.R. Pridiyathorn Devakula | 31 May 2001 | 6 October 2006 |
| 18 | Tarisa Watanagase | 8 November 2006 | 30 September 2010 |
| 19 | Prasarn Trairatvorakul | 1 October 2010 | 30 September 2015 |
| 20 | Veerathai Santiprabhob | 1 October 2015 | 30 September 2020 |
| 21 | Sethaput Suthiwartnarueput | 1 October 2020 | Present |
See also
- Thai baht
- Economy of Thailand
- Bank of Thailand Museum
- List of central banks
