Mystery of strong baht raises suspicion in US

The Thai central bank “faces criticism for doing too little to curb gains in the baht”. Doesn’t this suggest that the Bank of Thailand is and should indeed be manipulating the currency to some extent?  The report adds that, “Countries that aim to boost overseas sales normally prefer weak currencies to make their goods cheaper” – which suggests that the BoT’s efforts aren’t very well carried out or effective.
The question in my mind is more, why do Thai exporters do so well despite the relatively strong baht? Are there perhaps hidden exports, or more demand from tourist-spending, which somehow aren’t reflected in official figures? 
And why does the BoT not reduce domestic interest rates, to weaken the baht against the world’s main trading currency. It’s a mystery! What are their reasons for not doing so? Fear of a domestic credit crisis, domestic political considerations, or what?
I’ve watched the strong baht for over a decade, since the late-’90s spending bubble and crash, and wondered what factors are influencing it. I must confess I’m still puzzled.
Ricardo
For those that haven’t figured it out yet, the US accuses Thailand of manipulating its currency to the downside so as to boost Thai exports.
If this is true, and Thailand agrees to stop the currency manipulation, as many expat posters here confidently claim they are doing, expats will get even less baht for their home currency.
janclaes47
The BoT is actually doing an excellent job of being an independent central bank. It has so far resisted pressure from the finance minister to lower interest rates. The BoT’s mandate is to manage inflation and create financial stability – a tall order when the political winds have been blowing in all kind of directions the past 10 years.
The strong baht is probably a combination of the $4-billion-per-month inflow from tourists and lower imports because of sluggish domestic consumption. The Thai export machine is kind of caught in the crossfire.
ExpatOilWorker
That thread headline is going to get a bunch of expats’ panties in a twist, but it’s saying the exact opposite.  True manipulation would be a gain for foreigners in Thailand as the BoT would weaken the baht to help exports. That’s not happening – unless they’re already trying to do that and the baht keeps bouncing back. It just seems that the dollar is weak, not that the baht is strong. I’ll bet if Trump were impeached tomorrow, the dollar would skyrocket. Just wishful thinking on both counts.  
Berkshire
ThaiVisa