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Thai Commercial Banks' Foreign-Exchange Daily Turnover Increases 30 Percent.
May 5--Commercial banks' turnover of foreign exchange transactions totalled US$385 billion (about 16.4 trillion baht) last year, with average daily turnover of $1.6 billion, up 30.5 percent from 2001, according to the Bank of Thailand.
Spot market turnover, which accounted for 35 percent of daily trade, totalled $135 billion, down 3.1 percent from 2001. Transactions with offshore financial institutions declined 14.8 percent to $56.9 billion.
Turnover with resident customers totalled $78.1 billion, increasing 7.7 percent from the previous year in line with higher payments for imported goods. Net transactions with local customers totalled $10 billion.
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