The baht headed for the longest stretch of losses this year on Monday as investors sold off assets after the Royal Household Bureau said His Majesty the King’s condition was unstable.
The Stock Exchange of Thailand main Index of shares slumped the most in Asia and the yield on 10-year sovereign bonds climbed to a three-week high after the bureau said on Sunday doctors are closely monitoring His Majesty’s condition.
The baht declined 0.5% to 35.081 per dollar as of 4.02pm and reached a two-month low of 35.098 earlier, according to prices compiled by Bloomberg.
The SET index sank 3.15% to 1,457.02 after falling as much as 3.6%.
The yield on 10-year government securities rose six basis points to a three-week high of 2.27%, according to data compiled by Bloomberg. The yield on notes due 2022 climbed four basis points to 1.97%, the highest since the bonds were sold in July.