What You Need to Know About the Thai Baht

Whether you’re visiting Thailand for the first time or are returning, it’s important to know what Thai baht is and how to use it. The baht is one of Asia’s strongest currencies and is used in a wide range of trade and travel transactions.

The baht is divided into 100 satangs and is issued by the Bank of Thailand. It’s widely accepted throughout Thailand and is the country’s official currency.

The baht is the official currency of Thailand

The Thai baht is the official currency of Thailand (formerly Siam). It’s one of the most frequently used currencies in the world.

Before introducing banknotes, the country used shells–pot duang–and baked clay coins as legal tender. In 1853, King Mongkut ordered the first paper money, Mai.

But it wasn’t very successful, and people still preferred to use pot duang. So the baht became Thailand’s new currency in 1902.

Today, banknotes come in denominations of 20 baht, 50 baht, 100 baht and 1,000 baht. Coins are also in circulation, with the 10 baht being the most common denomination.

It is divided into 100 satang

The Thai baht is the official currency of Thailand. It is divided into 100 satang (Template:IPAc-en; Template:Lang-th, Template:IPA-th) and is issued by the Bank of Thailand.

It is a decimal system that was introduced in 1897 by king Chulalongkorn. Prior to that, the baht was based on a unit of mass, called ticals, and one tical equaled 15 grams of silver.

Despite the change to the present decimal system, coins denominated in ticals were still in circulation until 1910. Coins with the old units are still sometimes referred to as salueng, and 25 satang is still colloquially referred to as a salueng, although that amount is not used often anymore.

The baht is currently issued in the denominations of 1, 2, 5, 10, 25, 50 and 100 satang. All of these coins feature a portrait of the reigning king of Thailand on one side and varying images on the reverse.

It is issued by the Bank of Thailand

The baht is the official currency of Thailand and is issued by the Bank of Thailand. The Bank of Thailand has the exclusive right to mint and print all Thai coins and banknotes.

The obverse of each note is adorned with a portrait of the reigning king of Thailand and a number of varying images associated with Thailand’s history. For example, the 500-baht note features a temple and a statue of Rama III, who was king from 1824 to 1951.

The Bank of Thailand has taken a hands-off approach to the baht, which has been under pressure from foreign investors and is down about 10% against the dollar this year. Acting Finance Minister Prawit Wongsuwan is calling on Bank of Thailand Governor Arkhom Termpittayapaisith to hold talks with the Bank of Thailand’s board of directors to discuss reducing volatility in the currency.

It is a unit of measurement

The baht is an internationally recognized unit of measurement. It was introduced in 1897 and is subdivided into 100 satang.

The currency is issued and managed by the Bank of Thailand. It is also used as legal tender in Laos, Cambodia and Myanmar.

During the early 20th century, the baht was pegged to the British pound sterling and the Japanese yen. Gold convertibility was also established. The rate fluctuated between 11 baht per one British pound and 22 baht per one pound.

In the later part of the century, the baht was also pegged to the US dollar. This lasted until 1978. Then, the Asian financial crisis forced the baht to be uncoupled from the US exchange rate and halved its value against the dollar.

The baht is still a popular currency to use in Thailand today. It is widely used as a unit of payment across the country and can be purchased at banks, exchange booths and most larger hotels. It is always recommended to check the current exchange rate before making a money transfer, as these can fluctuate frequently.