Thailand is an Asian country on the Gulf of Thailand bordering Laos, Burma, Cambodia, Vietnam and Malaysia. Its economy is a thriving one of growing industrial concerns. While still exporting canned pineapple and tuna, Thailand also is gaining a growing export market in textile and hard disks and integrated circuits. Its currency, the baht trades under the initials THB. It takes 100 satang to equal 1 baht.
History
The currency of Thailand dates back to the 9th century. The Mon people issued silver coins with a conch on the obverse and the Mother Goddess and Srivista symbol on the reverse. This coinage had Indian origins, but the Mons also had coins with original designs. Their coinage, however, was not to last after the Khmer rulers of Cambodia conquered the country. In fact, for this period from the 11th to about the 13th century, there was no coinage in circulation.
The Thai people completed their conquest of Thailand in the 13th century. They had two separate methods of producing their unique money. Unused to the concept, the Thai had created silver “rings” to act as coins. One method common to the Northern Chiengmai utilized square silver bars. The other in the Kingdoms of Sukhotai and Ayuthia used round silver bars. The ring coins continued to be the currency until around the 14th and 15th century. During this time, the ring shapes metamorphosed into tight balls. This was the “bullet coins” called “pot duang” or curled up worm, in Thai.
The Bangkok dynasty was responsible for the next changes within the monetary system. General Chakri overthrows the Ayuthian Kingdom and moves the capital to Bangkok establishing himself as Rama I (1782-1809). The Ayuthian coinage continues to circulate, but he and his successors add their own personal mark or marks to the original coins. During this period and the previous time, small change circulated in the form of cowrie shells or clay tokens. Porcelain, glass and brass tokens also began to make an appearance during the 1870s. They bore symbols of good fortune and some pictorials, many relating to their origin as gambling tokens. Many of these coins were brightly hued and glazed. In the 19th century in the Sothern Thai district, the smaller coinage differed. Songkhala, Ligor and Patalung, for example had base metal small change. This coinage related more closely to the border countries such as Malaysia.
Western style currency entered the country during the early 19th century. Its immediate influence was slight. A British trader, Hunter, attempted to interest the royals in machine-struck coins. He failed. It was not until Rama IV that the king showed any official interest. This was only after Queen Victoria sent him a printing machine complete with several dye. He liked the machine so much he ordered another one. He began printing government-issue coins with the royal Thai elephant within the chakra on the obverse and the royal Thai crown between two umbrellas on the reverse. Notes and coins came off the presses in 1851. This practice continued under the next several Ramas. Rama IV also introduced small bronze coins to use as change with the elephant, chakra, umbrella and crown.
Rama V continued to produce coins like his father. He also added, in 1874, some new bronze coinage bearing the royal monogram. In 1887, he replaced them with British-style coins. They featured the king on the obverse and a Britannia-like figure representing Thailand on the reverse. At this time, the money, the baht equaled 8 fuang. In 1897, however, the decimal system arrived with 1 baht now equal to 100 satang.
The coinage during the early 20th century retained some Thai features. The coins sported 3 elephants. By 1946, the Garuda Eagle with a God design was prominent. By this point, the issuing of money came under the Bank of Thailand. During the war, Japanese occupation made the coins come in line with the Japanese currency. Afterwards, the money returned to its pre-war motifs. During the 1980s, the currency crisis of the Asian Markets affected and devalued the money. It has since re-emerged stronger than before. Today, coins appear in denominations of 1, 5, 10 25 and 50 satang and 1, 2, 5 and 10 baht. There are also banknotes in the sums of 10, 20, 50, 100, 500 and 1,000 baht.
Obtaining Thailand Baht
You can exchange your own money for local currency at banks. You can also use exchange it at hotels. There are moneychangers at the airports as well. You can also rely on ATMs. You can find them throughout the country. The only exceptions are very rural regions.
Protecting Your Currency
You will find that petty crime is common in Thailand. This includes pickpocketing and purse snatching. Such crimes are prevalent in crowded markets, tourist areas, and bus or train stations. You need to take the usual precautions. Do not flash your cash or show signs of affluence. Do not leave your personal belongings alone on the beaches or elsewhere. Make sure your hotel rooms have secure locks and use them.
Using Your Thailand Baht
Thailand provides ample opportunities to spend its local currency. You require it for taxis and other modes of transportation. It you wander through a street market, you may find it easier to use money than credit cards. Use the local cash to famed Thai silk in Bangkok or cotton and silk in the northeast. Other products you might want to consider are leather goods, amber, sapphire or gold jewelry, celadon and bronzeware.
Travel Tips and Warnings
- The situation in Thailand is fragile and able to deteriorate quickly. Listen carefully to the warnings and any travel bulletins.
- Insecure areas include the far southern provinces of Narathiwat, Pattani, Yala, and Songkhla
- Certain areas of the country may become impassable because of the floods from the heavy monsoon rains. Check the weather and road conditions before you venture into the country and countryside.
- Exercise caution when you go to the beach. There are poisonous jellyfish off Han Rin beach.
- Riptides along the coastal regions are strong. This includes some very popular beaches of Phuket, Koh Samui, Pattaya, Rayong, and Cha-am/Hua Hin.
- Avian influenza may become a problem in Thailand. Dengue fever is common.
- Never insult the king. Do not place a wallet carrying money in the back pocket as this is considered derogatory. Such things are criminal offences.
- There are many ways to enjoy Thailand. Take a dive tour in Krabi or Tang.
- Visit the hill tribes in the company of a qualified guide.
- Head to the Simian Islands for their sandy beaches and dramatic stretches.
- Go to the ruins of the former capital cities of Ayuthia and Sikhotai.
- Hike in Lan Song National Park, Taruta National Park or along the Khao Yai trails.
- See the monkeys among the Khmer ruins of Lapburi.
- Spend some time in Bangkok enjoying the pleasures of the massaging monks of the Temple of Wat Pho, a river taxi, Chinatown and the Old City with its palaces and temples.
Overview
From
the liveliness of Bangkok to the beauty of Thai beaches to the
remoteness of the hill tribes, Thailand is a country with much to offer
its visitors. It can also provide business people with excellent
opportunities.
For travel information, see www.tourismthailand.org.
Currency Summary
Current currency: Baht
100 satang equal 1 baht
Coins: 1, 5, 10 25 and 50 satang; 1, 2, 5 and 10 baht. Banknotes: 10, 20, 50, 100, 500 and 1,000 baht