In 1972, cupronickel 5-baht coins were introduced, switching to cupronickel-clad copper in 1977. Between 1986 and 1988, a new coinage was introduced, consisting of aluminium 1, 5 and 10 satang, aluminium bronze 25 and 50 satang, cupronickel 1 baht, cupronickel-clad copper 5 baht and bimetallic 10 baht. The Thai Baht is issued in various denominations, including banknotes of 20 Baht, 50 Baht, 100 Baht, 500 Baht, and 1,000 Baht. Coins are also available in denominations of 1 Baht, 2 Baht, 5 Baht, and 10 Baht, as well as 25 and 50 satang coins. Before decimalization, the Siamese government employed Chinese, Latin, Jawi (Malay), Devanagari, Khmer and Khom, Lanna, and Burmese scripts in banknotes and coins, as seen. The reason is not clear, though it is a common understanding that it is to ease the facilicitation of trade within Siam.
Design of Baht
But, since the Asian financial crisis of 1997, growth has slowed considerably. Explore us currency vs chinese currency differences in value, design, and more in this comprehensive article. Explore the impact of strong currency vs weak currency on global economies, understanding trade balance, inflation, and economic growth.
Issue 7, 8, 9 – 1908, 1913, 1929, 1939
The most commonly used denominations are 20 Baht, 50 Baht, 100 Baht, 500 Baht, and 1,000 Baht, which are frequently used for minor purchases, local meals, dining out, shopping, and major transactions, respectively. A 9th-series 5-baht note displays the portrait of King Rama IX, one of the many rulers who introduced different forms of currency over the centuries. The Thai baht (THB) is the official currency of the Kingdom of Thailand.
- The series 16-2 notes depict the life and achievements of King Rama IX on the reverse.
- The 1 and 2 salueng were replaced by 25 and 50 satang coins in 1915.
- You can exchange your money for Thai Baht at the airport, banks, or currency exchange offices.
- The Thai currency is called the Baht, and it’s the official currency of Thailand.
- Concerned about the symbolic inappropriateness of the elephant, which could imply foreign influence or association, King Rama III ultimately rejected all of the submitted patterns.
- Consequently, the new coins quickly faded from circulation, forcing the government to continue producing coins under the old system.
How much cash should you take to Thailand?
It’s a comprehensive range of denominations, with banknotes available in values of 20 Baht, 50 Baht, 100 Baht, 500 Baht, and 1,000 Baht. Series 10 banknotes were produced by Thomas De top 10 best brokers with high paying forex affiliate programs La Rue & Company Limited. Due to heavy counterfeiting, series 10 was issued in series 9’s stead.69 The 100-baht note is the only denomination issued in this series.
The Thai currency is called the Baht, and it’s the official currency of Thailand. It’s divided into 100 satang, but you won’t often see satang in circulation. The amount of cash to take to Thailand depends on the length of your stay and planned activities. It’s advisable to carry a moderate amount of cash for daily expenses and use credit cards or ATMs for additional funds as needed. A daily budget of around 1,500 to 3,000 THB (approximately 50 to 100 AUD) should cover typical tourist expenses. Yes, Western Union provides a tracking option where you can use the Money Transfer Control Number (MTCN) provided upon sending money to track the status of your transfer until it reaches the recipient.
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) under a decimalized silver standard system. During issue, there were also various debasements of the silver content of these coins. In 1918, during World War I, silver prices surged, leading to a change in the composition to 65% silver and 35% copper. In 1919, the silver percentage dropped further to 50% silver and 50% copper. After the war, in 1919, the composition returned to 65% silver and 35% copper.49 In 1917, the price of silver rose and exceeded the face value of silver coins.
Common FAQs about the Thai Baht and Western Union Transfers
Western Union offers a fast, reliable, and convenient way to send money to Thailand, whether you’re supporting family or managing property expenses. Exchange 20 USD to THB with our reliable currency converter & guide, get up-to-date rates, convert USD to Baht, and plan your trip to Thailand. Explore the value of 10 bahts in Thai currency, offering insights into local economics and everyday purchases.
This coincided with the Bank of Thailand fully converting to an in-house production.70 As a consequence, the 1-baht note’s production was cancelled. These banknotes series are not yet demonetized and hence still legal tender, though they are never seen in circulation anymore. Series 4 type 2 banknotes were produced by Royal Thai Survey Department and the Naval Hydrographic Department. This meant that the government of Thailand could not order banknotes from Thomas De La Rue & Company Limited. Series 3 type 1 banknotes were produced by Thomas De La Rue & Company Limited.
The national symbol for Thai baht is an uppercase B with a perpendicular line down the center, denoted by the symbol ฿. This symbol is easily recognizable and helps you identify the currency. The official currency of Thailand is the Thai Baht, commonly referred to as just baht.
2003 (Series 9 to Series , early Rama IX era
This series was actually delayed due to the Siamese revolution to abolish the absolute monarchy and transform it into a constitutional monarchy. Despite the initial enthusiasm for the decimal system, the new coins struggled to gain popularity among the public. Many people were unfamiliar with the decimal system and preferred the traditional currency. Consequently, the new coins quickly faded from circulation, forcing the government to continue producing coins under the old system.
- During issue, there were also various debasements of the silver content of these coins.
- Most stores, supermarkets, and dining establishments accept baht as payment.
- The first series to depict king Rama V, the coins of this issue were made of copper, silver, and gold.
King Rama V intervened, insisting that the most accurate phrasing should be “Siam Ratcha-Anachak” (สยามราชอาณาจักร; Kingdom of Siam). The Thai Baht is divided into 100 satangs, though these are rarely encountered in daily commerce due to their low value. This is because satangs are worth very little, making them almost useless in everyday transactions. Thailand attracts millions each year with its stunning landscapes, rich history, and vibrant culture.
Thai Baht (THB): What it is, History, Economy
The Thai Baht became the focus of economic observers in 1997 when Thailand was the epicenter of the Asian financial crisis, following the Bank of Thailand’s decision to abandon the Thai Baht pegging to the U.S. dollar. Coins have denominations of 25 satangs, 50 satangs, ฿1, ฿2, ฿5, and ฿10. Exchange rates and fees vary by the amount being sent and the method of transfer. Western Union provides a price estimator tool online that offers transparency on the total cost of your transaction before you commit to sending money. Yes, you can send money from Thailand to over 200 countries and territories using Western Union. Services include sending money from local agents, online platforms, or Western Union’s mobile app.
In 1908, holed 1, 5, and 10 satang coins were introduced, with the 1 satang in bronze and the 5 and 10 satang in nickel. The 1 and 2 salueng were replaced by 25 and 50 satang coins in 1915. The Thai Baht banknotes have different colors and sizes, making them visually appealing. Each denomination has a distinct thickness and feel, making it easier to distinguish them. The Thai Baht has a unique design that reflects the country’s rich cultural heritage.
You can also find coins in the denominations of 25 and 50 satang, although they’re not commonly encountered in everyday transactions. The Bank of Thailand, the country’s central bank, manages and issues the Thai Baht in various denominations. Banknotes come in ฿20, ฿50, ฿100, ฿500, and ฿1,000, while coins have denominations of 25 satangs, 50 satangs, ฿1, ฿2, ฿5, and ฿10. The Thai Baht’s journey began in the 15th century, deeply intertwined with Thailand’s royal heritage.