The baht fell as much as 0.6% to 37.38 to the US dollar yesterday, the lowest since October 2006. The Thai currency has weakened almost 11% this year, with the losses mostly since the start of the Ukraine war. The decline happened after the US lifted interest rates by 0.75% to 3.00-3.25%, the highest level since 2008, prompting losses on Wall Street’s benchmark S&P 500 index, the Nasdaq Composite and US futures. The Stock Exchange of Thailand, however, managed to finish higher thanks to significant purchases of tech, banking and automotive shares, compared with drops of Hong Kong’s Hang Seng Index, the Shanghai Composite, the Nikkei 225 and South Korea’s Kospi. . . .
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