What Does a Rising Baht Mean for Thailand’s Economy?

What Does a Rising Baht Mean for Thailand’s Economy?

The Thai baht has been the best performing currency in emerging Asia since 2018. On a year-on-year basis, it has roared more than 8 percent against the U.S. dollar and this year reached a six-year high. But according to news headlines and commentary, the strong currency has lowered the country’s competitiveness and worsened both goods exports and tourism, two major drivers of Thailand’s economy. Currency appreciation is not unique to Thailand. Bank of Thailand…