Thai Baht Falls to Three-Year Low on Growth Concern; Bonds Drop
This article is for subscribers only.
Thailand’s baht slid to a three-year low and bonds fell after a surprise drop in exports added to concern Southeast Asia’s second-largest economy will struggle to emerge from a recession this quarter.
Overseas sales decreased 1.5 percent in July, the third decline in a row and less than the 0.8 percent gain forecast by economists surveyed by Bloomberg, a report showed yesterday. The country posted a current-account deficit of $550 million in July, according to another Bloomberg survey before data due Aug. 30, while figures released last week showed the nation entered a recession for the first time since 2009.