Author: Phornchanok Cumperayot, Chulalongkorn University

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 per cent against the US 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.