Thai Baht (THB)
19 hours agoThe Thai Baht (THB) serves as the official currency of Thailand. The currency code for the Thai Baht is THB, and its commonly used symbol is “฿.” The Bank of Thailand oversees the issuance and management of the country’s money supply, along with the establishment and execution of monetary policy.
The origins of the Thai Baht can be traced back to the historical currency system of Thailand, which was based on weight units. The word “baht” initially denoted a weight unit for measuring precious metals. Before coins were introduced, the Thai economy utilized “bullet money” or “pod duang,” which consisted of small, bent pieces of precious metal shaped like bullets.
The first official Thai coins were minted in the late 19th century during King Rama V's reign. In 1897, a decimal system was adopted for the Thai currency, dividing the baht into 100 smaller units known as satang. The Bank of Thailand was founded in 1942 to oversee the nation’s currency and monetary policy.
The Thai Baht is divided into 100 smaller units called satang. Coins are available in denominations of 1, 2, 5, and 10 baht, as well as 25 and 50 satang, although satang coins are infrequently used due to their low value. Banknotes come in denominations of 20, 50, 100, 500, and 1,000 baht.
The designs on Thai Baht coins and banknotes often feature the reigning monarch, historical figures, and cultural symbols, showcasing the nation’s history and heritage.
Thailand boasts a diverse and export-driven economy, with significant contributions from agriculture, manufacturing, tourism, and services. The country is a leading producer of rice, rubber, and sugar, and plays a vital role in the global automotive and electronics sectors.
The exchange rate of the Thai Baht may fluctuate due to external influences, such as changes in global commodity prices, regional economic trends, and the performance of major international currencies.
The Thai Baht is the official currency of Thailand, managed by the Bank of Thailand. With a history rooted in the traditional weight-based currency system, the baht has transformed into a decimal currency divided into 100 satang. Various denominations of coins and banknotes are issued, with designs that reflect the country’s history and heritage. The exchange rate of the Thai Baht can be affected by external factors and the overall performance of the national economy.
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