The Thai Baht
The Thai Baht is what is used in Thailand. You need to be familiar with the currency of Thailand if you have plans of visiting the country, before making flight and hotel bookings. The currency in Thailand is known as the Thai Baht, and is commonly represented by an uppercase B with a slash through it. It is recommended for you to check with a currency app or the internet to catch the most up-to-date exchange rate and help you understand the actual costs of the food, lodging and regular items you can purchase in Thailand. Over the past decade, the Thai Baht has fluctuated between 30 Baht to 42 Baht for one dollar.
The Thai Baht
The Thai Baht has coins and notes: 1 baht, 2 baht, 5 baht, and 10 baht coins and 20 baht, 50 baht, 100 baht, and 1,000 baht notes. The Baht is further broken down into centavos, which is called, satang, and in every baht there are 100 satang. Nowadays, there are only 25 satang and 50 satang coins, but these coins are rarely used in most transactions. The most common coin in Thailand is the 10 baht and the most common note is the 100 baht.
Foreign travellers should be aware that Automated Teller Machines – ATMs are not very hard to find in Thailand, and most accept major credit cards and you can withdraw Thai Baht from an ATM machine if you have not exchanged your local currency prior to travelling. You can also see the Thai economy on this website for more details.
If you are using a foreign card, you will likely be charged a small fee from the Thai bank and there might be an additional fee charged by your local bank. However, you will not be needing cash for every transaction that you will be doing in Thailand because most hotels and food places accept major credit cards.
But prior to using your credit card in Thailand, you have to inform your bank and your credit card company that you will be having a vacation during which days. As foreign use of your credit card would flag the system as a suspicious activity, your credit card may temporarily be locked making your money inaccessible. Some travellers exchange a small amount of their money before leaving the country, keeping both dollars and baht with them during their travel.
You can also find currency exchange kiosks in airports and malls, or you can also exchange your foreign currency in any Thai bank. Make sure that you have a photo or a copy of your credit card and keep the copy safe, in case your card gets stolen it would make the police report much easier.
https://www.lawfirm-bangkok.com/business-law/the-thai-baht.htmlhttps://www.lawfirm-bangkok.com/wp-content/uploads/2019/05/pexels-photo-164467-1024x849.jpeghttps://www.lawfirm-bangkok.com/wp-content/uploads/2019/05/pexels-photo-164467-150x150.jpegThai Business Laweconomy,thailand tourismThe Thai Baht is what is used in Thailand. You need to be familiar with the currency of Thailand if you have plans of visiting the country, before making flight and hotel bookings. The currency in Thailand is known as the Thai Baht, and is commonly represented by an...JS email@example.comAdministratorBangkok Law Firm