Here are a few other currency pairs and the amount that 1 Thai baht is equivalent to using the exchange rate on June 23, 2022: You’ll get a different rate if you’re converting Canadian dollars (CAD), Australian dollars (AUD), or New Zealand dollars (NZD). As of June 23, 2022, 1 USD was equal to 35.34 THB. If you’re converting between dollars and Thai baht, then you’ll want to look at the USD rate.
The best time to exchange Thai baht depends on the currency exchange rate for each currency pair, which fluctuates. dollars (USD), British pounds (GBP), or euros (EUR). Likewise, if you send money to Thailand, make sure it’s in baht, not in U.S. The baht is the only legal tender in Thailand, so if you travel there, you will need to get your money exchanged into baht. Leaders would withdraw these from circulation in 1875.īecause there still weren’t enough Thai coins in circulation to meet the demand, the government allowed three foreign commercial banks to operate and issue banknotes in 1889, 1898, and 1899. King Chulalongkorn wanted to avoid its use, so he introduced a low-value paper currency called “Att Kradat,” while waiting for copper coins that were supposed to come from England. The value of tin and copper in the world market rose above the face value of the coins.Īt that point, people started using the “pee,” a type of currency they could exchange for money at the casinos. When King Chulalongkorn arrived in 1873, copper coins of low value were incredibly scarce. Since then, Thailand has faced serious currency shortages several times. In 1853, to combat the demand for more currency, King Mongkut ordered the first paper money, called “Mai.” It wasn’t very successful, however, because people still preferred to use the pot duang instead of the official currency. Imports and exports increased significantly, and as a result, there wasn’t enough pot duang to meet the demand.
Thai currency rates free#
Before developing modern banknotes, Thailand used shells-pot duang-and baked clay coins as legal tender.ĭuring the reign of King Mongkut in the 19th century, Thailand introduced free trade and established diplomatic relations with Western countries.
Thailand’s money wasn’t always in paper form. The primary colors and sizes of the notes are the same as before, with the back designs featuring images of the kings of Thailand in order from past to present. The most recent editions of the 500- and 1,000-baht banknotes were issued on King Maha Vajiralongkorn’s birthday in 2018. King Maha Vajiralongkorn, Thailand’s current king, has his face on the 20-, 50-, and 100-baht banknotes. You can also find hidden Arabic numerals on the lower-left corner of each banknote. The denominations are prominently displayed in Arabic numerals and Thai numerals. The Bank of Thailand uses a process called intaglio printing that leaves the print slightly raised, which allows for a very tactile feel compared to other currencies. In fact, each banknote denomination has a different thickness and feel so it’s easier to tell them apart when handling Thai currency. They make the Thai baht with a special cotton fiber designed to be extra durable. On the flip side, many shops in Thailand display some smaller baht banknotes as a symbol of respect to the king. Burning, tearing, or writing on a banknote.
Because all money in Thailand bears the portrait of the king or a deceased royal family member, this law extends to the handling of currency.įor instance, the following behaviors might be illegal in Thailand: This law prohibits any verbal, physical, or written act that exhibits disrespectful behavior toward the king or any member of the royal family. The country has a strict national law prohibiting insults to its monarchy, known as the lese-majeste law. But in Thailand, that is certainly not the case.
In the U.S., people may not handle bills and coins with much care. Whether you need to send or exchange Thai baht or just want to learn more about this Southeast Asian currency, have a look at these fascinating facts.
Thai currency rates code#
You can identify the baht by its three-letter code THB on foreign currency exchange markets. 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 (฿). The 10-satang coin is the most widely used coin. Thai coins come in denominations of 1, 2, 5, 10, 25, and 50 satangs. The Thai central bank divides the baht into 100 satangs. 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. Like many currencies, Thailand’s currency is available in coins and banknotes.
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