Thai baht faces worst day in 23 years as strong dollar pressures Asia FX

Official data showed the economy expanded 5.31% in 2022, its best since 2013, and faster than the 5.29% expected in a Reuters poll. Among other regional currencies, the Philippine peso fell 1.3% and South Korea’s won weakened 1.7%. The Indian rupee fell 0.8%, while Singapore’s dollar eased 0.1%. On Friday, the U.S. Labor Department’s closely watched employment report showed nonfarm payrolls surged by 517,000 last month. Economists in a Reuters poll had expected a gain of 185,000.