Teflon Thailand and it's Bulletproof Baht. For myriad reasons, the THB is an amazingly strong and resilient currency. Somehow, some way it just powers on. Not that an over-strong THB is necessarily a good thing, but it's certainly good for certain people.
Personally, I think THB strength is fueled by greed at the top and the near "slave-labor" wages paid to the vast majority of Thai workers. The ultra-low labor costs here do not reflect in the prices any longer, as almost everything here is equally priced, or even more expensive, than other countries which pay all their employees, at every level, considerably more.