Most banks can offer a currency exchange service, you can deal with your exchange business during regular business hours from Monday to Sunday. You should provide your passport or other identifications to exchange at a bank. Thailand is known as one of the most popular destinations in the world. Planning for your Thailand tour but have no idea about how to pay in Thailand? Just check this guide to Thai currency and you will clearly understand how to pay in Thailand.
Know what is THB? Got another good explanation for THB? Don’t keep it to yourself!
The currency code for Thailand Baht is THB, and the currency symbol is ฿. Below, you’ll find Thai Baht interactive brokers rates and a currency converter. To discover what the current rate is, use our currency converter. Visit the Sainsbury’s Bank Travel Money Currency Converter to find out more.
- King Chulalongkorn wanted to avoid its use, so he introduced a low-value paper currency called “Att Kradat,” while waiting for copper coins that were supposed to come from England.
- Because the person on Thai Baht cash is the king of Thailand, it is considered offensive to carry money in your back pocket.
- If you’re buying your travel money online you may also see the official code being shown – THB.
- The Thai baht (THB) is the official currency of the Kingdom of Thailand.
Be Respect to Thai Money
Likewise, if you send money to Thailand, make sure it’s in baht, not in U.S. dollars (USD), British pounds (GBP), or euros (EUR). Do you still have Thai Baht leftover from your trip of a lifetime? Just bring any spare notes to your local travel money bureau and we’ll convert your Thai Baht to pounds in no time. Revolut offers several different account plans so you can pick the one that suits your needs and spending, including some with no monthly fees. All account plans let you hold and exchange multiple currencies in the same account, and there’s no-fee to spend currencies you hold.
As a reminder, withdrawing cash from an ATM in Thailand will be charged 200 THB as a why the biggest bitcoin mines are in china flat fee for each transaction (Except AEON Bank, which only charges 150 THB). Most large hotels and resorts provide money exchange services for customers’ convenience. However, the exchange rate of USD or Euros to THB might not be as competitive as other options.
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 (฿). You can identify the baht by its three-letter code, THB, on foreign currency exchange markets. Convert pounds to Thai Baht and discover the exchange rate before you fly. Use our currency converter to see the Thai Baht rate today. You’ll only be able to spend in THB while you’re in Thailand. Carrying some money in cash and using a travel debit card from a service like Wise is usually the best way to spend while you’re away from home.
Nectar members get better rates
Planning smart and convenient ways to spend in THB when you’re away is likely to mean you save on costs in the end. If you’re paying for things in Thailand with a GBP bank card you might find a foreign transaction fee is added. This pushes up your costs when you spend in a foreign currency, and can be tricky to calculate.
However, these controls were largely lifted by March 3, 2008, erasing significant disparities between offshore and onshore exchange rates. A financial crisis struck Thailand in 1997, causing a 50% devaluation of the Baht Best oil etf and compelling the adoption of a floating exchange rate system. Following this economic collapse, the Thai Baht eventually stabilised.
- The Thai Baht, represented by the currency code THB and the symbol ฿, is the official currency of Thailand.
- In stores and restaurants, Thai Baht prices are likely to use the currency symbol ฿.
- The primary colors and sizes of the notes are the same as before, with the back designs featuring images of the kings of Thailand in order from past to present.
THB Thai Baht
They make THB with a special cotton fiber designed to be extra durable. In fact, each banknote denomination has a different thickness and feel, so it’s easier to tell them apart when handling Thai currency. This law prohibits any verbal, physical, or written act that exhibits disrespectful behavior toward the king or any member of the royal family. Since all money in Thailand bears the portrait of the king or a deceased royal family member, this law extends to the handling of currency.
You can check the official sites of different banks to ensure you get the best rate. We recommend you bring enough local money only for the cost of your first day before your trip to Thailand. The exchange rate of Thai Baht is always better in Thailand, so you can just change your money after arriving in Thailand. Thai Baht is the most convenient currency to use in Thailand. However, if you are curious about can other currencies be used in Thailand. US Dollars may be possible to use in certain circumstances, such as in some tourist areas, larger hotels, airports.
Why convert sterling to Thai Baht with us?
Coins are issued in denominations of 1, 2, 5, and 10 Baht, and 25 and 50 satang, while banknotes come in denominations of 20, 50, 100, 500, and 1,000 Baht. The Bank of Thailand also plays a crucial role in maintaining the stability of the Thai Baht. While the Baht is floated freely in the foreign exchange market, the Bank sometimes intervenes to prevent excessive volatility that could disrupt economic stability. All you have to do is tell us your Nectar account number when you buy your travel money.
In fact, we buy most foreign currency notes in denominations we sell (buy back rates vary daily). If you’re asked if you’d rather pay in GBP instead, say no. That’s a sign of dynamic currency conversion, which usually means extra costs. ATMs are widely used in Thailand so withdrawing money in target-currency is easy, particularly in big cities and Bangkok. You can easily find an ATM that is available for withdrawing cash throughout Thailand. Withdrawing Thai Baht from an account that will not charge an international ATM or currency conversion fee is one of the best ways to get Thai Baht.
When you’re in Thailand you’re going to need THB in cash for some of your spending – particularly when tipping or making smaller value purchases. Buying your THB travel money in advance can get you better GBP/THB exchange rates, and saves you wasting precious time shopping around for a good deal once you arrive in Thailand. The rate you need to focus on is the mid market rate, which is the one banks and major currency services get when buying and selling currencies.
Subsequently, this rate underwent several adjustments, linking the Baht to the Japanese Yen at par during World War II. Post-war, it was pegged at 20.8 Baht per 1 US Dollar, transitioning to 20 Baht per US Dollar in 1978 and then to 25 Baht in 1984. Thailand’s currency has gone through many changes over the years, but it’s one of the most frequently traded currencies in the world.