China's Foreign Exchange Reserves Plunge $99.5 Billion In January 2016, now they are at a 3 year low. Beijing is selling dollars to defend the Yuan. Looks like the big money is starting to move out of China.

How will this affect Thai baht?

This is China selling US Treasuries to raise cash. They are soon going to run out of rope because they hold the US dollars in that form to engage in international trade. Few will accept Yuan for anything.

Many have believed that "China is so rich" that "The US owes them money" when in fact most countries that engage in a lot of international trade own USD in the form of Treasuries. Now China is really short of money and has been selling in a big way.

We all know that China is crashing and if they hadn't propped up their stock market by raising cash it would be a lot worse than it is. They actually devalued the Yuan on about Aug. 10 2015 to try to stimulate exports. Look at (click on) the one year USD/CNY exchange rates here. The Yuan keeps tumbling and what they can do about it now remains a question.

Cheers.

to put it in perspective:

China's Reserves fell in January 2016 approximately 3% to 3,230,000,000,000

i refrain from commenting on the usual yakety-yak than China is crashing because the $3.23 TRILLION value of foreign reserves means the country is "short of money"

more perspectives:

Japan reserves............... $1.233 Trillion

Germany reserves.......... $ 174 Billion

UK reserves.................... $ 156 Billion

France............................ $ 138 Billion

United States of A........... $ 118 Billion