The Thai baht dropped 1.8% yesterday against the dollar, being the largest decline since 2007. It looks like the Central Bank’s interventions might bear fruit but the decline may also be caused by traders miscalculations and international factors such as the US – China trade negotiations. During 2019 the Thai currency appreciated almost 9% during 2019 being the ‘best’ performer in Asia.
Historically, the Thai Baht reached an all time high of 56.50 against the dollar in January of 1998.
Interested may find the following links informative regarding the currency war.