Thai Baht: Guide To Thailand’s Official Currency

Everything You Need To Know About Thailand’s Currency: The Baht. Heading to Thailand? Before you pack your bags, take time to familiarize yourself with the country’s official currency, the Thai Baht (THB). Keep in mind that US dollars are not accepted in Thailand, so they need to be exchanged for Baht.

Foreign Exchange Rate

Be updated with the current exchange rate. I recommend that you exchange your money when you’re in Thailand already, so you can get a better conversion rate.

The current is exchange rate is 1 USD = 30.421 THB. Stay up-to-date with prevailing rates by downloading a currency app or referring to this website.

Quick Tip: Scout for Forex offices in popular tourist destinations to get the best rates. Skip the ones in the Airport and Hotels.

What Are Thailand’s Banknotes and Coins?

The Thai Baht is available in banknotes – 20(Green), 50(Blue), 100(Red), 500(Purple) and 1,000 (Brown) and Coins – 1(Silver), 2(Bronze), 5(Silver with nonagon shape) and 10(Gold and Silver). Smaller coin denominations called Satang are hardly used in Thailand. All the Thai Baht banknotes and coins have the image of the King of Thailand.

The most frequently used coin is the 10 baht while with the banknote it is 100 baht. Therefore, it’s best to have these denominations when you get your money exchanged in the forex outlets.

What Are Your Travel Money Options in Thailand?

If you ever need extra cash during your vacation, ATMs are widely available in Thailand and the withdrawal limit is 10,000 THB to THB 25,000 per day. ATM withdrawals come with foreign transaction fees so try to stick to your budget or plan your transactions ahead of time.

Traveler’s Checks are still accepted by most Thailand banks and Forex offices. Traveler’s Checks are better than exchanging cash because you’ll get a better rate. Do you have credit cards or debit cards? Nothing to worry about as many establishments in Thailand accept major credit cards.

It is best to inform your credit card company about your trip destination and length before you leave for Thailand. Your credit card activity may be deemed suspicious if you have no previous history of foreign credit usage. This can cause delays in the approval process of your transactions.

For a stress-free arrival, exchange some money before going to Thailand. Exchange just enough currency for emergency pocket money and taxi fare. Afterward, you can exchange the rest of your cash when you are already in Thailand.

Quick Tip: When using your credit card avoid using Dynamic Currency Conversion (DCC). Always select payment in Thai Baht so your credit account will not incur add on charges.

How To Spend Wisely in Thailand

Here are sure-fire ways to enjoy your Thailand vacation without going beyond your travel budget.

Green), 50(Blue), 100(Red), 500(Purple) and 1,000 (Brown) and Coins – 1(Silver), 2(Bronze), 5(Silver with nonagon shape) and 10(Gold and Silver).

Smaller coin denominations called Satang are hardly used in Thailand. All the Thai Baht banknotes and coins have the image of the King of Thailand.

The most frequently used coin is the 10 baht while with the banknote it is 100 baht. Therefore, it’s best to have these denominations when you get your money exchanged in the forex outlets.

What Are Your Travel Money Options in Thailand?

If you ever need extra cash during your vacation, ATMs are widely available in Thailand and the withdrawal limit is 10,000 THB to THB 25,000 per day.

ATM withdrawals come with foreign transaction fees so try to stick to your budget or plan your transactions ahead of time.

Traveler’s Checks are still accepted by most Thailand banks and Forex offices. Traveler’s Checks are better than exchanging cash because you’ll get a better rate.

Do you have credit cards or debit cards? Nothing to worry about as many establishments in Thailand accept major credit cards.

It is best to inform your credit card company about your trip destination and length before you leave for Thailand. Your credit card activity may be deemed suspicious if you have no previous history of foreign credit usage. This can cause delays in the approval process of your transactions.

For a stress-free arrival, exchange some money before going to Thailand. Exchange just enough currency for emergency pocket money and taxi fare. Afterward, you can exchange the rest of your cash when you are already in Thailand.

Quick Tip: When using your credit card avoid using Dynamic Currency Conversion (DCC). Always select payment in Thai Baht so your credit account will not incur add on charges.

How To Spend Wisely in Thailand

Here are sure-fire ways to enjoy your Thailand vacation without going beyond your travel budget.

1. Keep a Journal of Your Expenses. Before you snooze, make a list of your expenses for the day.

Don’t throw tickets and receipts unless you’ve logged them on your expenses journal. This way you’ll be able to keep track of where your money went and avoid being cash strapped midway your vacation.

It’s easier to avoid impulsive spending when you keep track of your expenses.

1. Plan Your ATM Withdrawals. Banks charge 200 THB for every foreign ATM withdrawal.

Avoid small frequent withdrawals so charges won’t accumulate. Withdraw 10,000-20,000 THB at a time or better yet bring enough money with you.

Try to stick to your budget so you won’t need to use ATMs.

1. Travel in the Offseason. You can save a lot by scheduling your trip during the off-peak season. Airfare and Hotel accommodations are priced lower during these months.
2. Master the Art of Haggling. When in Thailand, always haggle for the best price when booking sight-seeing packages, shopping in markets, buying street food, taking a tuk-tuk ride and getting a taxi.

Remember to do it nicely. Otherwise, your bargaining attempt will fail.

1. Go Around via Public Transport. Do you know that riding a bus is cheaper than a tuk-tuk ride?

If you want to lower your transportation expenses, hop on a city bus instead.

Taxis, hotel car service and tuk-tuk come at a higher price. You can also rent a bike to explore the place and all for 60 baht.

1. Look Around for Great Tour Deals. If you need a guide in exploring Thailand, make sure to compare tour deals first.

Travel agencies are all over Thailand, so it won’t be a hassle to scout for good deals. Remember, the more tours you book the better discounts you earn.

Don’t forget to check the net for travel scams so you can avoid them.

1. Buy Drinks at Convenience Stores. Thinking of having an ice- cold beer on the beaches of Thailand? Head off to the nearest convenience store before getting sand in between your toes.

Alcoholic beverages like beer are cheaper in convenience stores. If you want to save money, buy water instead of canned drinks. You can also refill your water bottle for 2 baht only.

1. Try Street Food. Bangkok is well known for its street food. It’s cheap and delicious.

Choose the stalls that are highly frequented, if you are worried about cleanliness.

Include China Town, Bang Rak, Bangkok Old City and Khao San Road in your gastronomic itinerary.

Traveling To Thailand? Learn About Its Currency And The Country

The Baht is the official currency of Thailand. If you want to stay updated on the value of the Baht, download a currency converter on your smartphone. Thailand only accepts the Baht as currency for making payments. Therefore, if you are heading to Bangkok, the city capital of Thailand, you need to exchange your home currency for Thai Baht.

It is advisable to have your money exchanged when you are already in the city so you can get better rates. Just carry with you enough Baht for small expenses that you may incur upon arrival at the airport. Have your money exchanged in offices with signages Bureau De Change, Geld Wechseln or Cambio.

During your stay in Thailand, you can also use Traveler’s checks and credit cards to cover your expenses. Remember to inform your bank and credit card provider that you’re traveling to Thailand and get details on overseas transaction fees and interest charges.

Bangkok – The City Of Angels

Bangkok, also known as Krung Thep Maha Nakhon (city of Angels), the capital of Thailand has a rich history.

During the Ayutthaya Kingdom, the city which is called used to be a trading post near the Chao Phraya River. It became Siam’s capital, the former name of Thailand, in 1767 after the Burmese destruction of Ayutthaya.

King Taksin reclaimed Ayyuthaya and Bangkok and then declared Thonburi as the new capital of the kingdom. After King Taksin died in 1782, King Rama I, re-established the capital by relocating it to the east bank of the river. He declared Bangkok as the new capital of Siam.

The historic center of Bangkok, the Rattanakosin, can be found on the Chao Phraya River in Phra Nakhon district. Thailand’s famous historic sites, the Grand Palace, the Wat Phra Kaew, and the Wat Pho, are in Rattanakosin.

Due to the city’s strategic location, Bangkok became an influential hub in Indochina and brokered power struggles between European forces. Over the years, Bangkok progressed into an independent and highly-influential city.

Thailand’s economic center is now recognized as one of the key cities in Asia. The 20th century ushered in the rise of Bangkok.

Multinational firms invested heavily in the country’s economy which resulted in the expansion of Thailand’s global influence in the business and political arena. In 2009, Bangkok came behind Singapore as the Southeast Asia’s most-expensive city.

The city has become famous for its rich heritage, cultural attractions, and exotic entertainment venues.

Visitors continue to be amazed at how Bangkok managed to perfectly blend the old with the new. Thailand’s historical sites and infamous red-light districts bring in an average of 11 million tourists annually.

The estimated population of Bangkok in 2019 is 10,350,204. The capital sits at the center of progressive central and eastern Thailand which span from Nakhon Ratchasima, all the way to the industrialized Eastern Seaboard.

Bangkok Metropolitan Region (BMR) refers to the metropolis plus the five surrounding provinces: Nonthaburi, Pathum Thani, Samut Prakan, Samut Sakhon, and Nakhon Pathom.

Thailand has two international airports, Don Mueang International Airport and Suvarnabhumi Airport.

8 Valuable Tips for Travelers Going To Thailand

Managing Your Vacation Fund
Here’s a quick guide on how far your travel budget can take you in Thailand
Budget – Less than 2,000 Baht
• Dorm bed or Bangkok hostel: 200–800 Baht
• Street-stall meals: 100–300 Baht
• Two popular tour site/s: 500–600 Baht
• Bus: 50–100 Baht
Budget range – 2,000 Baht to 4,000 Baht
• Flashpacker guesthouse or midrange hotel room: 800–1,500 Baht
• Food: 500–1,000 Baht
• Four or more Tour sites: 500–1,000 Baht
• Bus, tuk-tuks, and occasional taxis: 100–300 Baht
Budget – more than 4,000 Baht
• Boutique hotel room: 4,000 Baht
• Food: 2,000–4,000 Baht
• Private tours: 1,000 Baht
• Bus, tuk-tuks and taxis: 300–800 Baht

Art of Haggling
Thailand is a haggler’s paradise. Market vendors are very accommodating so feel free to haggle when you shop. After a seller tells you the price, politely ask if he/she can still lower it.
The seller will then state his/her first price offer. Next, state your counteroffer until you come to a price agreement after the vendor’s second offer.
Never bargain unless you plan to buy the item. You have a higher chance of getting a better price if you will buy several pieces of an item.
Remember to haggle with a smile. Haggling, when done right in Bangkok will earn you 10% to 20% savings on your shopping expenses.

Money Matters
The majority of the shops, food outlets, hotels and tour offices accept credit cards or cash. Street vendors, market stalls and public transportation only accept cash.
The basic unit of Thai currency is the Thai baht (THB). Coins are in denominations of 25 satang, 50 satang, 1B, 2B, 5B, and 10B. Banknotes are in denominations of 20B (green), 50B (blue), 100B (red), 500B (purple) and 1000B (beige).

ATMs
In case you’ll run short of cash, there are plenty of ATMs around Thailand. However, banks charge 200-250 Baht ATM foreign transaction fee plus other fees.
Best to avoid small withdrawals and go for the maximum amount allowed per day to save on ATM fees. The maximum withdrawal limit for most ATMs in Thailand is 30,000 Baht. Citibank in Thailand has a 50,000 Baht ceiling for ATM withdrawals.
Don’t forget to confirm with your bank if Your ATM Card will work in Thailand to avoid stressful situations during your vacation.

Converting your Travel Money to Baht
You can get the best currency exchange rates from Banks and private money changers in Thailand. To get good rates, it’s best to buy US dollars in your country and then convert them to Baht when you’re in Thailand already.
If you must exchange your money at Bangkok International Airport (BKK – Suvarnabhumi), go to Super Rich and Value Plus. Convert only a small amount because it’s better to exchange money outside the airport.
Be wary of pickpockets in crowded areas because they prey on tourists. Carry with you just enough cash to get you through the day. Use a carry-on bag that secures your gadgets and wallet well.
Exchange Rates
Australia A$1 26B
Canada C$1 25B
China Y10 50B
Eurozone €1 37B
Japan ¥100 32B
New Zealand NZ$1 24B
South Korea 1000W 30B
UK £1 44B
US US$1 34B
For current exchange rates, see www.xe.com.

Credit and Debit Cards
Visa and Mastercard are widely accepted in stores, hotels, and restaurants in Thailand. Tap-to-pay debit card machines are not available in all the establishments in Bangkok, you would have to enter your Pin or swipe card to transact.

To Tip or Not to Tip
Tipping is not widely practiced in Thailand. However, due to the influx of tourists who tip habitually, the locals are getting used to it.
How much should you tip? 10% of the bill is considered a good amount anywhere in the world.

Use Public Transportation As Much As Possible
Thailand boasts of an efficient public transport system. The city’s rapid rail transit system is clean, safe and fast, so you don’t have to worry about commuting.
Take the MRT (subway) or BTS (Sky Train), if you’re staying anywhere near Bangkok’s business district.
Another option is to take Chao Phraya Express Boat, a public boat line that runs through central Bangkok along Phraya River. It has 34 piers that are located near tourist landmarks and costs 32B or less per one-way trip.

Conclusion

Thailand is a wonderful country to visit. It has a rich, beautiful, and colorful culture and history. Thai food is one of the best you will ever experience in the world. Nothing beats original Thai cuisine!

Thailand is also a very affordable place to shop at. The U.S. Dollar will go a long way here. For sure, you will also get great bargains on textiles, clothes, décor, furniture, and jewelry if you can bring your bargaining game up a few notches.

To maximize your enjoyment, make sure you bring enough currency with you. Get familiar with the ways you can exchange money and pay for your purchases while in Thailand.