Thailand, located in the center of mainland Southeast Asia, is a country known for its delicious cuisine, religious temples, beautiful beaches, and friendly people. The baht is the official currency of Thailand. It is divided into 100 satang. The issuance of currency is the responsibility of the Bank of Thailand. The currency is most regularly referred to as Thai baht or simply baht, and the symbol for it is an uppercase B with a perpendicular line down the center (฿). The Thai baht is made of a special kind of cotton fiber designed to be extra durable.
The Thai central bank pegged the baht to the US dollar from the mid-1950s until 1997. The initial dollar peg translated to 20 baht = 1 USD. During the Reagan presidency, when the US economy enjoyed a period of rapid growth and a strong US dollar, the peg was adjusted upward to 25 baht = 1 USD.
Following the Asian Financial Crisis that started in 1997, the Bank of Thailand chose to allow the baht to freely float in the foreign exchange market, as opposed to setting a fixed exchange rate value.
In Thailand, it is considered rude to carry banknotes in your back pocket, because it is considered sitting on the image of the King. Another offensive act against the monarchy is stepping on a banknote or coin. Any act of disrespect towards the King is frowned upon.
Few Important Points of the Thai Baht (THB)
Symbols: ฿
ISO code: THB
Central Bank: Bank of Thailand
Currency Subunit: Satang = 1/100
Denominations: Banknotes: ฿20, ฿50, ฿100, ฿500, ฿1000
Coins: 25 Satang, 50 Satang, ฿1, ฿2, ฿5, ฿10
Value of the Thai Baht (As on 23/04/2022)
1 Thai Baht = INR 2.26 (Indian Rupees)
1 Thai Baht = PKR 5.51 (Pakistani Rupees)
1 Thai Baht = BDT 2.55 (Bangladeshi Taka)
1 Thai Baht = USD 0.029 (United States Dollar)
1 Thai Baht = EURO 0.027 (Euro)
You can watch the following videos in YouTube in my channel "CURRENCY UNIVERSE" to know more about the Thai Baht. Please note that the videos are in Hindi.
THAILAND CURRENCY - THE THAI BAHT
THAI BAHT VS INDIAN RUPEE
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Last updated on 23/04/2022
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