New low for Thai currency

There have been further falls on the east Asian currency markets, with the Thai currency, the baht, reaching a record low for the second day running.

It lost more than four per cent of its value when trading began on Tuesday, falling to about fifty-two to the dollar.

The Thai Prime Minister, Chuan Leekpai, said on Monday that because of the deepening financial crisis his government would seek to renegotiate the terms of its seventeen-billion-dollar rescue package with the International Monetary Fund.

From the newsroom of the BBC World Service