Many Asian stock exchanges deepened their losses on Thursday as currencies tanked after the US Federal Reserve delivered a third consecutive 75-basis-point interest rate cut overnight and signalled more to come through next year, sparking fears of recession.
The baht fell as much as 0.6% to 37.38 to the US dollar yesterday, the lowest since October 2006, as the greenback also notched new highs against regional currencies such as the yen, won, yuan, Singapore dollar and Australian and New Zealand dollars.
The Thai currency has weakened almost 11% this year, with the losses coming mostly since the start of the Ukraine war.
