![]() ![]() Since then, it has been the official currency of Thailand. Finally, in 1902, with the introduction of the Thai Department of Technology under the Ministry of Finance, Baht came into existence. In 1890, Ngoen Kradat Luang, a form of paper money, was thought to be introduced by the government, but it never really came into existence. Later in the early 1870s, under the reign of King Chulalongkorn, Att Kadrat, another currency, was introduced. However, its usage never really became predominant, since people preferred to use pot duang. But in 1853, under the reign of King Mongkut, foreign trade increased significantly and hence to accommodate the need for money, the first paper money, called Mai, was introduced. Origin of the Thai Baht Sourceīefore the introduction of the official currency, shells, baked clay coins and pot duang were used to exchange goods in Thailand. Most exchange offices are operated by the country's major banks. In popular tourist areas, exchange offices are located every few meters away. Double exchange is not a viable option either since it is more expensive than a single exchange. It is advisable not to exchange your money at the airport since the conversion charges are quite high and better deals can be found in many other parts of the country. It can be expensive to do so in your country of origin or a foreign nation. Once in Thailand, there are multiple places where you can get your currency exchanged. It is recommended to have your currency exchanged for the Thai Baht after reaching Thailand. For example, exchanging 100 USD notes would give you a much better deal than exchanging 2 USD notes. It is advisable to exchange large value notes instead of small ones. What is the Currency Exchange Rate in Thailand? Source The exchange rates of major currencies with the Thai Baht, as of January 2020 are as follows - 1 INR = 0.43 THB 1 USD = 30.56 THB 1 Euro = 33.74 THB 1 GBP = 40 THB The coins also have an image of King Maha Vajiralongkorn on one side and a monogram of the King on the opposite side. The currency notes have an image of King Maha Vajiralongkorn in the uniform of the commander of the Royal Thai Air Force on the front side. On the other side are images of former kings of the country. The Baht has been used as the official currency in Thailand since 1902. Baht, according to a SWIFT survey done in 2017, was the tenth most frequently used currency for making payments. ![]() Coins of 50 and 25 Satangs are also used. Banknotes of 20, 50, 100, 5 Bahts are used. ![]() 1 Baht is divided into 100 Satangs, i.e 1 Baht = 100 Satangs. The Bank of Thailand is responsible for issuing the currency notes in the country. The official currency of Thailand is the Thai Baht or Baht. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |