Sign - ฿ / Code - THB
Long before our corporate currency exchange brokers were helping our clients with their Thai Baht transfers, the Baht was creating its own rich history.
About Thai Baht
The Baht, like the British Pound, originated from weighing a traditional unit of measurement. In this case, it was a measure of silver (equivalent to 15 grams) used during the Sukhothai period (1300 CE), with its value determined by its weight.
Until 1902, the Thai Baht was fixed on a silver basis. From 1956 to 1997, the Thai Baht was pegged to the US Dollar until the Asian Financial Crisis hit, forcing the government to float the baht and halve its value.
The Baht is also used in Laos, Cambodia and Myanmar as legal tender as a result, the Thai Baht is the tenth most used currency when it comes to world payments.
Subunit: Satang – 1/100
Coins: 25 satang, 50 satang, ฿1, ฿2, ฿5, ฿10
Banknotes: ฿20, ฿50, ฿100, ฿500, ฿1000
Bank: Bank of Thailand
Posted in Currency Wiki on Jun 27 2017