What is Thai Baht?

Baht (บาท, symbol ฿, ISO 4217 code THB) is the official currency of Thailand. The issuance of this currency is the responsibility of the Bank of Thailand. One baht is divided into 100 satangs.

Wikipedia

The basic unit of value is the Thai currency (Thai baht).

Financial Fervices Authority

What is Thai Baht?

This Bath currency has the symbol ฿. One Thai baht is divided into 100 satangs. Like the Rupiah, the prevailing currency in Thailand is made of paper money and coin material . The majority of coins have a small nominal value. Whereas the majority of banknotes have a larger nominal value. The issuance of this currency is the responsibility of the Bank of Thailand. The Thai Baht banknotes consisted of ฿ 20, ฿ 50, ฿ 100, 500 and pec 1,000 denominations. Meanwhile, Thai Baht coins consisted of ฿ 0.01, ฿ 0.5, ฿ 0, 10, ฿ 0.25, ฿ 0.50, ฿ 1, ฿ 2, ฿ 5, and ฿ 10.

History of the Baht Currency

In World War II until 1980 the Baht was pegged to the United States dollar with an exchange rate of 1 $ = 20 Baht. Then the value continued to decline, and then pegged again to 25 Baht per US dollar in 1985 to 1997, then during the Asian economic crisis in 1998 the value of the baht fell by half, with a value of 56 baht per dollar. Afterwards the Baht was stable at 40 baht per dollar.

Many special edition 10 baht coins were issued for special events. Although coins that are valued in cash are official payment instruments, small shops usually do not accept them. Old coins that are still in circulation only read Thai numbers, but the new version also has Arabic numbers. All coins have a portrait of King Maha Vajiralongkorn on one side. The portrait of the king also appears in every banknote.

Baht Currency in Gold

The Baht is also a unit of measurement for gold and is commonly used for jewelry shops in Thailand. Baht has a size of 15,244 grams of gold per baht. So the value of gold in Thailand is not higher than the value of the baht.

 

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