Thailand Currency

Thai Currency

The currency of Thailand is the Baht, which consists of 100 satangs. Coins include the 25 satang, 50 satang, 1 Baht, 5 Baht and 10 Baht pieces. Paper money is used for larger denominations and is colour coded as well as being in different sizes for different denominations - the larger the denomination the larger the size. 10's are brown, 20's green, 50's blue, 100's red and 500 Baht notes are purple, and the 1,000 Baht notes are grey.

Exchange

The exchange rate of the Baht against other currencies floats and may change daily. At the moment the Baht has an exchange rate of over 40 Baht to the US Dollar. Money can be exchanged at commercial banks, at currency exchange services of these banks and at authorized moneychangers. Rates vary slightly from bank to bank. On Sukhumvit Road, in Bangkok a number of currency exchange services are accommodated in transformed caravan trailers. Many hotels double as authorized moneychangers though their rates are usually not as advantageous as those of banks or independent authorized moneychangers. A small number of independent authorized moneychangers offer better rates than banks.

Exchange Control

Foreign visitors may freely bring in foreign banknotes or other types of foreign money. Upon leaving Thailand, a foreign tourist may take out foreign means of payment, which he brought in with him. However, there is a limit on foreign notes or coins to a maximum equivalent of 10,000 US Dollars unless the visitor has declared a higher amount upon arrival. Attempts to take amounts higher than 10,000 US Dollars out of the country without having them declared upon arrival can lead to arrest, confiscation of the excess amount involved and/or prosecution. "...no restriction on the amount of Thai currency that may be brought into the country. A person travelling to Thailand's bordering countries and to other countries may take out local currency up to Baht 100,000 and Baht 50,000 respectively without authorization... Foreign tourists are freely allowed to take out gold ornaments."

Credit Cards

We recommend that card holders pay cash while shopping in small shops or keep close watch as it has been known for shop owners to make out extra slips, thus getting more money out of you, than your original payment. Credit cards are widely accepted in Thailand and most businesses display stickers for the cards they accept. Shops will sometimes add an additional charge of 3 to 5 percent when a client pays with his card. Cash advances can be obtained from some bank branches and ATM's.

Banks

Banks are normally open from 9:30-15:30 Monday to Friday except holidays. Currency exchange services of banks have varying office hours but most are open between 8:30-22:00 every day. The authorized money exchange counters of hotels often change 24 hours a day. Bank staff often speaks English so communication in main branches is seldom a problem. Many but not all bank forms are in English as well as in Thai.

Traveller Cheques

The rate is higher for traveller cheques but there is an 8 Baht commission and duty on each cheque cashed so larger denominations save money.

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