Asia’s Worst Currency May Extend Fall on Exposure to Oil Shock

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000APAC Fuel Crunch:A historic surge in oil prices is exposing the fragility of import-dependent Thailand, compounding pressure on an already weakening currency and raising the risk of capital flight, analysts say.The baht has dropped more than 5% this month, the worst performance among Asian peers. Strategists at Kasikornbank Pcl see it weakening a further 2% from its current level of 32.8 per dollar by midyear, with rising energy import costs and seasonal dividend repatriation likely to weigh on the currency.