71.   He did not detail which banks had entered into forward contracts, at what maturity or level.

72.   However, futurescontracts provide more flexibility than typical forward contracts becausefutures contracts may be disposed of at anytime.

73.   In addition, banks would set up non-deliverable forward contracts.

74.   In terms of financing, many are hedging against exchange rate fluctuations through forward contracts.

75.   It does not mend its mistakes by settling forward contracts when the baht is relatively stronger.

76.   Many leading Russian banks took forward contracts that exceeded their total assets many times over.

77.   Privately on several occasions Chaiyawat has denied any direct involvement in the fatal strategy to build up false foreign exchange reserves through selling the forward contracts.

78.   Satian Tantanasarit, senior vice-president of Thai Danu Bank, treasury department, suggested importers buy forward contracts if their foreign repayments come due within a short period.

79.   Singson said the circular was issued at a time when there was a need to regulate the large amount of inflows coming in through non-deliverable forward contracts.

80.   The BSP allowed exporters to open non-deliverable forward contracts as long as they sold the same amount of dollars in the spot market.