Siam Commercial Bank (SCB), led by Ms. Pikun Srimahunt, Senior Executive Vice President & Chief SME Banking Officer, and Mr. Patrick Poulier, Executive Vice President & Head of the Financial Markets Function, is continuing its support for SME entrepreneurs involved in international trade. SCB aims to turn the risk of dollar exchange rate fluctuations into business opportunities through the ?SCB Local Currency? service. This service enables the bank?s SME customers to reduce costs by converting their trading dollars to local currencies, enhancing their price competitiveness by requesting prices in local currencies instead.
Additionally, SCB has launched campaigns to encourage the use of these services. New customers can receive a 500-baht gift voucher by applying and accumulating foreign trade transactions via FX Online from July 1 to December 31, 2024. Existing customers can participate in the ?The more you use, the more you get? campaign, where they can receive a gift voucher worth up to 3,000 baht when accumulating foreign trade transactions according to conditions specified by the bank from July 1 to September 30, 2024.
The SCB Local Currency Service involves setting and paying for goods or services in the local currency of the trading partner country. It is an important tool for managing risks across various local currencies, such as the Yuan, Ringgit, and Rupiah. Currently, SCB offers services for international transactions in 18 currencies and provides foreign exchange risk management products. One such product is Yuan Pro Rata Forward booking, which allows entrepreneurs to track movements, book, and confirm special exchange rates in one place via ?FX Online? on SCB?s online platform, SCB Business Anywhere.
For more information on SCB Local Currency service and exchange rate risk hedging advice, customers can contact their Relations Manager, the Financial Market Sales team, or the SCB Business Call Center at 0-2722-2222.