The Thai baht, the best-performing currency in Asia this year, fell to a two-week low on Wednesday amidst speculation that slowing inflation will make the central bank more inclined to curb appreciation that threatens exports.
The baht fell 0.3 per cent to 29.46 per dollar as of 9:13 a.m. in Bangkok and touched 29.48, the weakest level since March 19, according to data compiled by Bloomberg. It has rallied 3.8 per cent this year and touched 29.08 on March 20, the strongest level since 1997.
Consumer prices rose 2.69 per cent in March, the least since August, official data showed this week. Currency gains help contain inflation by reducing the costs of imports in local- currency terms.
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