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Thailand Currency

 

 

Thailand Currency

Baht is the Thailand currency, with the satang as its unit. One baht has 100 satang.

The big stores and the hotels accept the most of the credit cards but, o f course, the cash is the one preferred in most of the places.

 

If you have traveler checks you have to know that it’s not accepted in too many places so you should change it for money at one of the bank exchange that can be found in any tourists’ destination.

 

The 25 satang coins and the 50 ones have very little dimensions and are made of brass.

 

The coins are rarely used and the tourists can use them at department stores and supermarkets.

 

There are also the 1, 2, 5 and 10 baht coins, the first 3 mentioned being silver and the last one consist of a brass center with a silver ring around it. The color and the size of the bills vary: the 20 baht bill is green, blue is for the 50 bill, red for the 100 bill, purple is the 500 baht bill and white is for the 1.000 bill.

 

Currency in Thailand

The 10 bath bill is in circulation, is brown and is rare. The coins and the bills circulate in more than just one version, all are legal so don’t worry if you have bills or coins with differences.

 

The picture of the Thai king is on every bill and coin and this is why they should be treated with respect. The most of the Thai shops may accept your credit cards but using the cards will cost you more.

 

For example: if you use American Express the surcharges will be of 5% and if you use Master Card or a Visa card, the surcharges will be of 3%. This happens because the merchants are charged by the credit cards companies for doing the transactions.

The king Chulalongkorn is the one who introduced the baht in 1897. The exchange rate for the baht, fixed to the American dollar was of $1 for 20 Thai baht, from the World War II till 1980. 

 

The value of the baht started then to decrease, from 1985 till the summer of 1997 the exchange rate being of 25:1, 

 

1997 being the year when the financial crisis appeared in Thailand as well as in the entire Asia.

In the summer of 1997 the Asian currency crisis begun in Thailand and the stock markets, the currency as well as the prices were affected not only in Thailand but in all the Asian countries.

The snowball effect was created by the Western investors who started to pull the money out losing their confidence in the East Asia’s securities.

 

The land of smile, Thailand, was very affected by this crisis and the baht had an exchange rate established at half of its value: 56:1 in the winter of 1998.

Thailand Currency
 

It managed to reach again the rate of 40:1, a rate that has been kept since that year. For a good choice of hotels with discount prices, visit Bangkok Hotel for more information.

 
 

  

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