Few know that Thailand is home to the second largest economy in Southeast Asia. But the Thai baht is now at a one-year low, down almost one whole percent, while the country’s stock index (SET) declined 2 percent.
The currency rate earlier this week was 31.80 baht to the US dollar, the weakest since July 2012. A report by Bloomberg News also states that overseas investors have sold a total of US$115 million of Thai equities on Wednesday – the most in six weeks.
“Thai economic growth may slow further in the third quarter as domestic consumption and exports are very weak,” said Voravan Tarapoom, the CEO of BBL Asset Management Co.
