Thai Baht à¸šà¸²à¸—/à¸¿
Thailand has official currency called Thai baht and its existence is from 1897 onwards .Bank of Thailand is the only governing agency which is responsible for circulation &issuance of currency in Thailand .Baht, earlier were divided into 100 parts called satang .but now this unit is no more so popular in usage, An interesting fact to note is that baht is also a unit of gold, and is used by jewelers and goldsmith in their trade and craft.
According to ISO 4217 standards currency code of bath is THB and code no is 764.Bank of Thailand is one of the strongest Power holders amongst South East Asian banks and, Increasing value of Baht have been responsible for sustained growth in Thailand’s economy .
I baht =15.22gms of gold
Bank of Thailand has two tiered currency exchange policy so onshore rates and offshore rates for same amount differs .The difference would be of 5 to 6 units in general. Visitors from abroad are advised to exchange their country’s currency only after reaching Thailand as they get better exchange offers.
Baths were originally called ticals came. Both the names Baht and Ticals are the names related to measurement of weight. Early coins were minted in gold and silver in different weights and denominations .Baht had a division called satang which was introduced by his majesty Chulalongokam. During his times this baths were divided into Eight parts i.e. eight fuang & eight taths. This system gradually declined after king’s death .25 satang or One fourth of baht is still used locally and called salueng. King Rama IV made lots of efforts to establish structured currency system in Thailand .He was responsible for standardizing the minted currencies, coins and printing of paper currency and was also responsible for issuance of paper bills and notes.
Before 19th century as there was no modern minting process, coins were made with unique process. Bars of metal were bended in a ring form .Which were than stamped with values. And denominations were issued in fractions/2 and its multiples e.g./28,1/32/1/24 and so on .There were different values for baths in silver and ones made in gold This were the times trade was at its peak with other civilizations and the reigning power allowed foreign currency to be used but with stamp of Thailand .
Modern Coins were minted only towards mid of 18th century and this came in various values like One silver, one sk ,one suang ,Two Suang and so on so forth .This were made of copper ad tin .Gold and Silver coins still existed but copper and tin coins gained more popularity.
10 baht coins is very similar to Euro 2 coin and thus creates lots of confusion in exchange. Current Coins are minted in Royal Mint and regulated by bank of Thailand.1,5.10.25 and 50 satangs,1,2,5and 10 baht s This coins have different pictures of Thai temples on them .
An interesting fact to note about notes in Thailand is that all the Bills carry picture of ruling king and thus one has to be very careful in using this .For e.g. its disrespectful for someone to carry the currency in back pocket as it would imply sitting on king picture .Many small Villages have a unique display of different denominations of this notes to show their reverence for the kingÂ
Export of local currency is legally limited to only 50,000bahts.Bank Notes are issued in five denominations that ar, 20, 50,100,500and 1000 baht different color and different pattern makes it easy to distinguish the notes.Â
20 Notes are green in color, 50tinge in blue, 100 in Red tinge, 500 in Purple tinge and the most valued 1000Baht note has grey color palette. The higher value note has bigger size compared to the notes which have low value so it becomes easy to immediately know the value of note by its color and size. These notes carry the image of Present king and on the reverse side one can see the images of his ancestors. The notes carry description of value in Thai script.
20 Baht note has Rama VIII th ,50 Baht has a monument in times of King Mongkut,100Baht has King Rama V th in military attire,500 Baht has Royal statue of Rama III,1000Baht has Rama IX on it’s front .Â
Only Thailand is having monopoly over usage of baths as its currencyÂ
One USD =26.965THB
One Euro =40.37 THB
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