Economics
World-Beating Currency Gives Thailand Major Economic Headache
- Baht is best performer globally against dollar over five years
- Growth estimates cut for economy relying on trade and tourism
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Thailand’s effort to revive economic growth with more than $10 billion of stimulus faces an obstacle from its surging currency.
The baht has strengthened more than 6% against the dollar in 2019, the most among major Asian currencies, and its appreciation leads the world over the past five years, according to data compiled by Bloomberg.