Declining dollar Who wins, who loses

But the baht is not alone. A number of traditionally risky and oft-overlooked currencies such as the Indian rupee and Brazilian real have become a whole lot more attractive recently, according to experts, helped in large part by the declining greenback.

This year has been particularly troubling for the U.S. dollar. An interest rate cut by the Federal Reserve in September and recent signs of softness in the underlying U.S. economy have only pressured an already weakened dollar.

The U.S. Dollar Index, which compares the dollar to a basket of six other currencies including the euro and Japanese yen, is down about 6.5 percent so far this year.

And with the Fed poised to continue cutting rates, the prevailing belief among currency experts is that more weakness lays ahead for the dollar.