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Opinion

Thai baht races ahead of Prayuth's slow progress

The strong currency is hurting Thailand's competitiveness and threatens further damage

| Thailand
Prayuth Chan-ocha smiles on June 6: when you grab power from a democratically-elected government it is best to have a plan. (Photo by Kosaku Mimura)

When Prayuth Chan-ocha grabbed power in Thailand in 2014, he donned a dowdy military uniform. A political makeover in the five years since has seen the general-turned-prime minister adopt well-tailored western suits.

The restyling seems prescient as Prayuth's second term begins, after his success in March's general election. For as well as battling political rivals he must tackle the pinstriped ranks of global currency traders.

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