Thailand is a Southeast Asian country known for its rich culture, famous delicacies, breathtaking festivals, cheap goodies, and friendly citizens. It’s no wonder it’s one of the hottest tourist spots in Asia. If you ever plan on conquering this country, you have to know it’s money.
The official currency of Thailand is the Thai Baht. It is equivalent to 100 satang. At the time of writing, it matches the dollar at an estimated 35 Thai Baht for every dollar. You can use a currency converter online to know its current exchange rate.
Coins are denominated according to the following: 1 baht, 2 baht, 5 baht, 10 baht, 25 satang and, 50 satang. It is worth noting that 25 and 50 satang are small values that are now rare in circulation. The 1, 2, and 5 baht coins are made of silver while the 10 baht coin is made brass with a silver ring around it. The 25 and 50 satang are made of brass.
Banknotes or bills are denominated according to the following: 20, 50, 100, 500, and 1000 baht. The bills differ in both color and size. The 20 baht bill is the smallest is colored green. Next is the 50 baht bill which is blue. Still bigger is the 100 baht bill colored red. The 500 baht bill us purple. The biggest is the white 1000 baht bill.
Both coins and bills are printed with the picture of King Bhumibol Adulyadej in the front. The back features various iconic landmarks and people of the country.
Credit Cards and ATMs
Thailand is a market hub full of shops that carry all kinds of goods at affordable prices. Many tourists come to the country to shop. The good news is that most outlets carry credit cards. Visa, MasterCard, American Express, and other cards are accepted. However, the interest charge might be costly due to international transactions being tacked a 2% to 5% charge by credit card companies. Even worse, there are a lot of shops that will charge you on top of the international transaction fee. These surcharges are typically added at 3% for Visa or Mastercard and 5% for American Express.
You might think that using the ATM will be better but it has its own disadvantages. Acquiring cash overseas might charge you more because of conversion fees. What’s more is that Thai banks now charge 200 baht for using foreign ATM cards.