Thai Baht Falls to 3-Year Low on Fed as Stocks to Bonds Slide

Thailand’s baht fell to the weakest level since August 2010 after Federal Reserve minutes showed officials support a cut in stimulus this year should the U.S. economy improve. Stocks and government bonds declined.

The baht slipped beyond 32 per dollar for the first time since July 2012 as official data showed global funds sold $582 million more Thai bonds than they bought this month through yesterday and pulled a net 30.6 billion baht ($953 million) from equities. A government report this week showed Southeast Asia’s second-largest economy entered a recession for the first time since 2009.