MANILA: The Philippine peso and the Thai baht offer a tale of contrasting fortunes, with one faring better than the other against a strong dollar.
The peso dropped 1% against the greenback in the first quarter, outperforming the baht whose 4.2% decline made it emerging Asia’s laggard. The divergence is likely to persist in the coming three months as the Philippines’ trade deficit narrows while Thailand’s tourism industry languishes.
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