Baht - state currency of Thailand

The currency of Thailand is known as a baht, it is controlled by the national bank of the state and, in turn, is divided into one hundred satangs. It should be noted that until 1925 it had a different name - tick. As for the new name, it used to be a measure of weight, in which the value of coins made of gold or silver was determined. In the nineteenth century, each baht consisted of eight fuangs. The decimal monetary system in the state was proposed and introduced in 1897 by the local Prince Mahisorn. Since that time and up to now, it is she who is used in the country. Three years later, coins of the old model were completely removed from circulation. An interesting historical fact is that the currency of Thailand before the beginning of the twentieth century was backed exclusively by silver. At that time, the cost of each baht corresponded to the price of fifteen grams of silver.

Bath in the twentieth century

In 1941, the state decided to issue coins worth 5, 10 and 20 satangs. For their production, only silver was used. The fact is that nickel was used for the military needs of the country, because the Second World War was in full swing. Since 1950, 20-satangovye coins have ceased to produce, and they were replaced by new, worth 25 and 50 satangs. Cast them from an alloy consisting of bronze and aluminum. It should be noted that the currency of Thailand has been minted for a long time without changing the date on the coins themselves. In 2008, representatives of the Thai National Mint officially announced the launch of the updated series. From now on, for the production of coins, the alloy was used, which significantly reduced the cost of production. On the back, as before, is the image of the local king. Despite the fact that the old coins, which have a denomination of 1, 5 and 10 baht, were not officially withdrawn from circulation, in many large stores they may not be accepted.

Paper money of the country

As for paper money, the currency of Thailand is divided into denominations of 20, 50, 100, 500 and 1000 baht. It should be noted that the "hundred" and "one thousand" are very similar to each other, so they are sometimes confused even by local residents. It is advisable to change foreign currency to a local currency in advance. The fact is that in shopping centers and shops when paying for goods only the currency of Thailand is accepted - baht. An exception can be unless a taxi, where after a preliminary agreement with the driver can be paid by US dollars or euros. With the exchange of money, there are no problems - it is produced even at international airports, and it is recommended to give preference to Phuket, where the course is practically the same as other places.

It should be noted that the procedure for currency exchange in banks is extremely inconvenient, because here it is necessary to fill a lot of pieces of paper and provide a passport, which will remove the copy. With exchange offices, everything is much easier.

Exchange rate against the ruble and the dollar

With respect to the Russian ruble, fluctuations in Thai money are quite insignificant, and the cost of one baht ranges from 0.95 to 1.05 rubles. In other words, the exchange rate is almost "one to one". Thus, the currency of Thailand to the US dollar is similar to the domestic one - one baht costs about 3 cents.