In recent years, Thailand has grown incredibly popular among travelers. Given this, understanding Thailand’s currency and how to convert different currencies (Dollars or Rials) is critical. Stay with us while we gather all of the information on the Thai currency in this article and present it to you.
History of Thai Currency
In 1890, the Thai government chose to use Ngoen Kradat Luang, or Treasury Notes, as Thailand’s currency and launch them into the market as banknotes. However, due to the government’s slowness in the banknote distribution cycle, this request was never fulfilled.
The year 1902 might be viewed as a significant turning point in King Chulalongkorn’s reign. Because of the formal opening of Thailand’s technology department in that year, which began operations under the direction of the Thai Ministry of Finance. This division was in charge of printing and exchanging paper currency.
The first contemporary Thai banknotes ultimately entered circulation on December 23rd of the same year with the introduction of this area. In actuality, this occasion marked the start of Thailand’s continued use of the Baht as its official currency.
What is the currency of Thailand?
The official and common currency of Thailand is BAHT and SATANG, the sub-unit or small currency of this country, where each Baht is equal to 100 Satang. In this country, money is used in two forms: paper banknotes and metal coins, the information of each of which is as follows.
BAHT Banknotes in Thailand
In Thailand, people use gray banknotes for 1000-baht, purple for 500 baht, red for 100 baht, blue for 50 baht, green for 20 baht, and brown for 10 baht. Of course, this country seldom ever uses the 1, 5, and 10 Satang banknotes.
Up until a few years ago, the ninth monarch, Bhumibol Adulyadej (Bhumibol Adulyadej), was depicted on the paper currency of this country. But after his death and the accession of his son Maha Vajiralongkorn, new banknotes bearing the image of the current monarch were issued.
In Thailand, both of these denominations of currency are still accepted as legal cash for all normal transactions.
- 1000 Baht Banknote
- 500 Baht Banknote
- 100 Baht Banknote
- 50 Baht Banknote
- 20 Baht Banknote
- 10 Baht Banknote
BAHT Coins in Thailand
Thai money’s metal coins also include six different varieties of 2, 5, and 10 Baht Coins, as well as 25 and 50 Satang Coins. The present and former monarchs of the nation are shown on one side of the coin, while the Thai currency symbol is depicted on the other.
- 2 Baht Coin
- 5 Baht Coin
- 10 Baht Coin
- 25 Satang Coin
- 50 Satang Coin
What is the value of the Thai currency (Baht) against the US dollar?
In general, like many other currencies, each unit of Thai currency (Baht) is worth less than the US dollar. In general, in the last decade, the value of the Baht has fluctuated greatly in relation to the dollar and has varied from 32 to 42 baht per US dollar.
Knowing that money has more worth than you may expect in this nation is intriguing. The offender will be prosecuted in Thailand for any verbal, physical, or written insult to the nation’s currency.
Thais revere their currency since it has images of the country’s kings on all of its paper currency as well as its metal coins. Therefore, be mindful not to insult this nation’s currency if you visit Thailand.
Which currency is more economical to take with you for a trip to Thailand?
When traveling to Thailand, it is best to bring dollars with you and then visit Thai exchange offices to convert the dollars to baht once you arrive. Because you will get Thai baht at a lower cost in this situation, but else you would lose money. At the same time, keep in mind that exchanging money at airport exchange offices is not lucrative. It is preferable to utilize the city’s exchange to save money on trips.
Similarly, you may convert it to baht without paying any costs by presenting new banknotes at any of the country’s automated exchange machines. Also, if you have an international MasterCard, you may withdraw baht from ATMs located around the city, albeit this financial transaction will incur a minor cost.
You should be aware of two important points about Thai exchanges.
First, depending on your request to convert dollars into 100 baht or 500-baht bills, the selling rate of currency will be different. In other words, Thai exchanges will charge you more money to convert your dollar into 100 baht notes than to convert it into 500-baht notes.
Second, exchange bureaus will charge you more per Baht when you exchange quantities under $100 than when you exchange amounts above $100. So, I recommend that you convert the majority of the money you need into baht all at once by estimating your hotel costs at the start of your trip.
Some intriguing Thai money (Baht) facts you probably don’t know
It may interest you to know that carrying printed banknotes in the rear pocket of your jeans is not typical in Thailand. This is unfavorable for Thais. Because the Thais see this work as squatting on the king’s picture and demeaning him. Who would dare to offend Thailand’s late adored king?
If you’re still not shocked, I must inform you that stepping on Thai coins or banknotes is regarded as an affront to the king and will probably not end well.
If I were you, I would pay special attention when walking through Thailand’s streets and alleyways so that I don’t accidentally step on one of these coins left on the street and end up in an account with a royal family supporter.
The next surprising thing, I must say that in some shops in rural areas in Thailand, small Thai notes are sold because people buy them as a symbol of the king’s health and respect for him. So, if you don’t want your trip to turn into the worst memory of your life with one wrong move, avoid crushing Thai printed banknotes and stepping on coins stamped with the king’s image.