31.   The Philippines and other Asian countries allowed their currencies to weaken after the baht was devalued last month.

32.   The pressure on the Hong Kong dollar dates from July, when Thailand devalued the baht, sparking a wave of speculation against other Pacific Rim currencies.

33.   The Philippine peso has been under pressure from speculators since Thailand devalued the baht last Wednesday.

34.   The Philippines had to devalue its currency, the peso, in a wave of global panic over emerging Asian markets after Thailand devalued the baht in June.

35.   There is talk of devaluing the baht, the Thai currency.

36.   A few months later, the government devalued the baht and revealed that the baht defense had nearly exhausted reserves.

37.   As investors worry that the Thai baht may be devalued to stimulate economic growth, currency speculators have been betting against it.

38.   But the growth bubble burst last year after a decision to devalue the baht triggered a region-wide meltdown.

39.   Dealers said Thai corporations were buying dollars to hedge their debt because of fears the baht will be devalued.

40.   Economists and securities analysts had been calling for months for the government to devalue the baht or let it float against other currencies.