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THAILAND (THB) THAI BAHT
The Baht is the official currency of Thailand and its international currency
code is THB. It is divided into 100 satang. The currency was originally known as
tical but by the 19th century it began to be called the baht.
Currently in circulation
Coins that are in circulation at present are in the denominations of 25 and 50
satang, 1, 2, 5 and 10 baht. Although the 1, 5 and 10 satang coins are legal
tender, they are hardly seen in circulation. Banknotes are available in the
denominations of 20, 50, 100, 500 and 1000 baht with 10 baht is rarely in
circulation.
Exchange facilities and traveller’s cheques
It is easy to change foreign currency in Thailand. The Bangkok airport has
exchange counters as you come into the arrival hall. You can get the best
exchange rates here and as there are tourists coming in from all parts of the
world, it is easy to change every type of currency here. Apart from this there
are several exchange offices in the tourist areas offering competitive rates.
Traveller’s cheques are also easily cashed and fetch a better rate when compared
to cash. However, there is a transaction fee on every traveller’s cheque cashed.
It is best to take US dollars traveller’s cheques.
Using credit/debit cards
ATM and credit cards are an easy option for withdrawing Thai baht and they also
give you a better exchange rate. Thai ATM’s do not have any numbers on the
buttons so you have to be careful of what you are entering in. Another drawback
is that some of the ATM’s do not accept international cards while some might
display the symbol and yet not accept the card. Cirrus and Plus cards are more
popular in Thailand.
Restrictions
There is no restriction on the amount of Thai currency that you can import into
Thailand. However, you cannot export more than 50,000 Baht out of Thailand
unless you are travelling to Myanmar, Laos, Cambodia or Malaysia on which
circumstances you may be allowed to take an excess of up to 500,000 baht.
There is no limit to the amount of foreign currency that you can import into
Thailand. Money drafts and traveller’s cheques have to be cashed into baht
within 15 days of arrival. Tourists are allowed to take back all the foreign
currency they had brought into Thailand.
Thailand: An overview
Thailand is a fascinating country with scenic and cultural assets that draw
people towards it. Its capital city Bangkok is full of surprises with its
stunning skyscrapers, exotic shopping malls, bustling street markets,
entertaining nightlife and the numerous Buddhist ‘wats’ temples that reflect the
cultures of Thailand. Apart from this there are wonderful beaches and glimpses
of natural beauty that can be found in the country.
The cost of living in Thailand is considerably low when compared to some of the
European countries, but the amenities available to tourists are quite modern.
Eating out is very cheap in Thailand. The cost of a proper meal at a good
restaurant will cost between 60 baht/$1.67/£1.17/Є1.33 to 100
baht/$2.79/£2/Є2.22 per person.
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