Political uncertainty in Thailand sparked a sell-off in the Thai baht and assets, with the nation’s currency and the stock market both taking a hit. The baht slid as much as 1.1% against the USD to 35.65, the lowest level since November 2022, mainly driven by news of a postponement of a meeting by a pro-democracy coalition seeking to form a new government. Foreign fund outflows, coupled with a strong USD, have further weakened the baht. In 2023, the Thai baht declined by 3.5% against the USD, while the country’s benchmark stock index fell by 12%.