Currency
Thailand currency is called Baht. One Baht equals 100 satang. While
the denomination of the notes varies from Bt10, 20, 50, 100, 500, 1000, the coins
are in the denomination of Bt 10, 5 and 1, 50 and 25 satang. Coins are mostly made
of silver and brass and may be of different sizes for the same value. Only the very
recent coins are denoted by Arabic numerals. Though the paper money has both Arabic
and Thai numerals, they still vary in sizes (that is different denominations have
different sizes and the size increases with increase in denomination) and are color
coded.
Color Code of the Thai Currency:
- 10 - Brown
- 20 - Green
- 50 - Blue
- 100 - Red
- 500 - Purple
- 1000 - Grey
Though the exchange rate varies from day to day, it approximately remains at 1$
equaling to 37 Baht. Foreign currency can be exchanged at various places, the best
among them being Banks which have the best rates and are operational from 9:30 am
to 3:30 pm from Monday to Friday, but you can also get currency exchanged
at big hotels, outside tourist areas and also from bureaux de change.
Debit and credit cards, like MasterCard, Visa and American Express card are widely
accepted in Thailand. One must check with their card company for acceptability of
their cards and also to avail various other facilities accorded to them. Travelers
cheques are preferable options for all, as additional exchange rates charges can
be avoided and they are greatly accepted in all major establishments like banks,
shops and hotels. It's advisable for all travelers to carry travellers cheques in
Euros, US Dollars or Pounds Sterling.
Thailand has many restrictions as far as the import and export of currency is concerned.
While there is no limitation on the import and export of foreign currency, the local
currency witnesses a lot of restrictions on its import and export. An individual
cannot import and export local currency more than 50,000 Baht and
for a family it should not go beyond 100,000 Baht, this is applicable for people
holding only one passport.
