Thailand Currency

Currency

The unit of currency in Thailand is the baht (THB). 1 baht is divided into 100 satang. Banknotes are in denominations of 1,000 (brown), 500 (purple), 100 (red), 50 (blue), 20 (green) and 10 (brown) baht. Coins consist of; 25 satang, 50 satang, 1 baht, 5 baht and 10 baht.

When out and about, useful denominations to carry are 20 and 100 bart notes as many smaller shops, vendors and taxi drivers may not be able to give change for larger notes.

The Thai baht was fairly stable against the US dollar in the 2008-2009 period, with an average of 34.98 baht to US$1, a high of 36.30 and a low of 32.88.

ATM’s are plentiful in the cities, larger towns and major tourist destinations, but sparse or non existent in villages and on many of the islands. Making cash withdrawals with a debit card should pose no problems and often will provide a favourable exchange rate, but be aware that many of the transactions will incur a small fee in addition to any charged by your own bank for foreign currency transactions. Traveller’s checks are also exchanged in many hotels and most banks, but don’t forget your passport.

Major credit cards are also widely accepted in hotels, shopping malls and restaurants , especially in tourist areas, but fraud is widespread and cards should be used sparingly and with discretion.

Thailand imposes a sales and services tax (VAT) at the rate of 7% which in almost all cases will be included in the advertised prices at shops and restaurants. Some Thai stores participate in a scheme whereby the VAT on larger purchases can be claimed back on departure.