Bank of Thailand has attributed the volatility of the baht in part to the inflow of sizeable funds into the debt securities market. BoT asked banks to refrain from sell-and-buy back transactions for all types of debt securities. Banks are permitted to buy or sell foreign currency with non-residents and to credit or debit non-resident baht accounts for settlements relating to investments in government bonds, treasury bills or BOT bonds only when such investments are longer than three months. Since early this year the bath has gained about 14% on the dollar and was trading at around THB 35.90 to the US dollar on Monday.