Thai Baht (THB)

Basic Concepts of the Thai Baht

The Thai baht is the official currency of Thailand, issued and managed by the Bank of Thailand with the international standardized code THB and symbol ฿. It uses the decimal system, where 1 baht equals 100 satang, and is one of the important currencies traded in Southeast Asia.

Countries and regions where the Thai Baht is used

The Thai Baht circulates and is used primarily within Thailand as the country's legal tender. Official use is limited to mainland Thailand, although it may be accepted in some neighboring border areas.

Units and Denominations of the Thai Baht

The denominations of the Thai Baht include 20, 50, 100, 500 and 1,000 baht for banknotes and 1, 2, 5, 10 baht and 25 and 50 satang for coins. The different denominations are usually printed with the King of Thailand or important historical and cultural motifs to reflect the country's character.

Historical Background of the Baht

The origins of the baht can be traced back to the 19th century, initially based on the silver standard. 1897 saw the first introduction of the decimal system in Thailand, which was gradually standardized. The modern baht has undergone a number of reforms, including the peg to the U.S. dollar and the implementation of a floating exchange rate system to meet the needs of local economic development.