Which bank became the central bank of Thailand when it began operations in 1942?

The Bank of Thailand became Thailand's central bank when it began operations in 1942.

The institution was established under the Bank of Thailand Act of 1942 and started operating on 10 December of that year. Its creation followed the development of Thailand's modern monetary administration and replaced earlier arrangements in which central-banking functions were handled through other government bodies.

The Bank of Thailand conducts monetary policy, maintains monetary and financial stability, manages international reserves, and oversees parts of the country's financial system. It also has responsibility for issuing Thailand's banknotes.

Thailand was formerly known internationally as Siam, and the country's currency remains the baht. The Bank of Thailand should not be confused with Siam Commercial Bank, a commercial bank founded in 1906. A central bank sets and implements national monetary policy; a commercial bank primarily provides services such as deposits and loans.