“For EM currencies, the worst is not yet behind us, as growth and inflation challenges persist into 2022, while U.S.
The Thai baht, which has plunged about 10% so far this year, was expected to fall 1.5% more to 33.77/$ in the next six months.
The lira has been the worst-performing currency among EM peers this year, thanks to an unconventional monetary policy espoused by President Tayyip Erdogan – cutting interest rates to fight inflation.