The iShares MSCI Thailand Capped Investablemarket index ETF ( THD ) , for example, has dropped from $95 to $79 in just one month, with some of that weakness attributable to currency effects as the Thai baht slides. (Investors who suffered through the Asian currency crisis of 1998 probably don't want to hear about the baht, which utterly collapsed 15 years ago.) Those countries had been suffering from an overly robust currency in recent years, which made their (non-commodity) exports uncompetitive and introduced inflationary pressures from rising import prices.