| Just in time for the summer holidays, the price of an ice-cold Thai beer is tumbling. Over the past month, the baht has fallen 2.9 per cent against the US dollar and 7.9 per cent against the euro, making it the world’s worst performing currency. Last week it dropped as low as Bt33.7 per dollar, a level last seen during the financial crisis in 2009.
The rationale is that Thailand’s stuttering economy and low inflation could push the country’s central bank to follow its unexpected April rate cut with further policy easing. Fast-rising household debt and poor export demand have both dented activity, leading some economists to forecast growth below 3 per cent this year...............................................Full Article: Source
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