When writing prices or amounts, it’s common to see the Baht symbol or the abbreviation used. Introduction of the Thai BahtUntil 1880, the Thai Baht was fixed to the British Pound at a rate of 8 TBH to 1 GBP. This rate changed several times until the Baht was re-pegged to the Japanese Yen at par during World War II.
- The obverse of Thailand currency coins features the image of Thailand’s King.
- In fact, each banknote denomination has a different thickness and feel, so it’s easier to tell them apart when handling Thai currency.
- Trains can be a good choice for you to transfer from city to city.
- The baht is a crucial part of Thailand’s tourism-driven economy, as millions of visitors exchange currencies each year.
- Whether you’re heading there for work or pleasure, you’ll need to know how to pay your way as you travel.
- Do you have any additional tips and ideas about making payment and using money in Thailand, or traveling in general?
Despite ongoing political unrest in the country, the Thai baht was one of the best-performing currencies in the foreign exchange (forex) market as of 2018. Remitly is on a mission to make international money transfers faster, easier, more transparent, and more affordable. Since https://www.forex-reviews.org/ 2011, millions of people have used Remitly to send money with peace of mind. If you need to send money to family and friends in Thailand, it’s safest to use a money transfer service—especially if you’re sending sizeable sums of money at once.
Countries that use the Thai baht
Trains can be a good choice for you to transfer from city to city. A ticket for an express train from Bangkok to Chiang Mai may cost from 400 to 1500 THB (12 to 44 USD) due to the different types of class of service you choose. Personally, I mostly use cash in Thailand, because I buy most of my food in markets where only cash is accepted, and the same is true for public transportation, and services like laundry, for example. Since then, I just make sure I always have at least two different credit cards with me, and always have some cash. Do you have any additional tips and ideas about making payment and using money in Thailand, or traveling in general? The current series of Thai banknotes, the 2018 series, all feature a portrait of the country’s King, King Maha Vajiralongkorn, on the obverse side.
Banknotes – 20, 50, 100, 500, 1000 THB and coins – 1, 2, 5, 10 THB; 25, 50 satang. Whether you’re heading there for work or pleasure, you’ll need to know how to pay your way as you travel. All Thai baht notes and coins have the image of His Majesty the King and should be treated with respect. Deep respect for the king is one of things about Thai culture that you need to know before traveling to Thailand. If you’ll be arriving at Suvarnabhumi Airport, you can exchange your currency at good rates there too when using the service of this Bangkok Airport plus500 review Exchange. International access ATMs can be found across Thailand but they charge extra 220 THB for every withdrawal additionally to the transaction fee for overseas withdrawals of your card.
The currency was originally known as the tical and this name was used in the English area text on banknotes until 1925. Whether you need to make cross-border payments or FX risk management solutions, we’ve got you covered. Schedule international transfers across 130 currencies in 190+ countries.
- For more on understanding exchange rates, consult an exchange rate guide.
- King Maha Vajiralongkorn, Thailand’s current king, has his face on the 20-, 50-, and 100-baht banknotes.
- Thai Baht is the sole accepted currency throughout the country.
- However, the modern incarnation of the currency came about in the early 20th century, following the reforms of Chulalongkorn.
- Paper banknotes come in denominations of 20 baht, 50 baht, 100 baht, 500 baht, and 1,000 baht, with 100 baht being the most commonly used.
- The cost of a Thailand tour varies in different travel styles, optional activities, and so on.
Thai Baht to United States Dollar
The best time to exchange Thai baht depends on the currency exchange rate for each currency pair, which fluctuates. The currency is most regularly referred to as Thai baht or simply baht, and the symbol for it is an uppercase B with a perpendicular line down the center (฿). You can identify the baht by its three-letter code, THB, on foreign currency exchange markets.
Thailand currency basics
Just check this guide to Thai currency and you will clearly understand how to pay in Thailand. When embarking on a journey to the exotic landscapes of Thailand, understanding the local currency is a crucial aspect of seamless travel. The official currency of Thailand is the Thai Baht (THB), a symbol of the nation’s economic vibrancy and cultural heritage. In this guide, we unravel the mysteries of Thai Baht, exploring its history, denominations, practical usage, and tips for managing your finances during your Thai adventure.
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Its key exports include computers, electrical appliances, textiles, and jewelry. In addition, fishing, agriculture, and tourism are major industries in Thailand. Thailand’s economy grew on average by 6.6% between 1950 and 2000, making it one of the best performing economies of the second half of the 20th century. But, since the Asian financial crisis of 1997, growth has slowed considerably.
In 1857, Thailand acquired its first minting machine and Thai silver coins began to be minted in the area. Coinage was streamlined in 1897, when the 11 denominations were simplified into two (satang and baht) Forex basic under a decimalized silver standard system. The baht is the only legal tender in Thailand, so if you travel there, you’ll need your money exchanged into baht. Likewise, if you send money to Thailand, make sure it’s in baht, not in U.S. dollars (USD), British pounds (GBP), or euros (EUR).
However, if you are curious about can other currencies be used in Thailand. US Dollars may be possible to use in certain circumstances, such as in some tourist areas, larger hotels, airports. But using US Dollars in Thailand is not so recommended, as you might not get the best exchange rate. The baht is considered one of the strongest Southeast Asian currencies and is one of the most widely used currencies for payments worldwide.