When you are travelling to Bangkok you will need to exchange your currency for the Thai Baht which is the currency in Bangkok. This is the only currency you can use when you are on your Bangkok trip and therefore you will have to exchange it with your currency at various exchange counters at the airport or foreign exchange bureaus. It is always recommended that you exchange your home currency to United States Dollars or Euros in your home country and then exchanging the USD when you enter Bangkok.
You can also make use of ATM cards, debit cards and credit cards for emergencies as they are universally accepted across Bangkok except for small restaurants. However, you also need to keep in mind that Thai banks will impose a certain amount of fee on every withdrawal by a foreign card. You also have to keep in mind that foreign exchange rates fluctuate and therefore you must exchange when the rate is low.
For more information on Bangkok for your holiday, call SOTC today.
One of the famous travel destinations of South East Asia is the capital of Thailand, Bangkok. In this classic yet chic, traditional yet modern, lively cosmopolitan city, you have so many things to do in Bangkok—visiting Temple of the Emerald Buddha, the Grand Palace, Khaosan Road, Chao Phraya River, Dusit Palace, Safari World, to enjoying in Giant Swing, modern, multi-storey shopping malls and many more—the options simply don’t get exhausted for the incredible experience you will have in your lifetime. The currency used in Bangkok is called Baht and it is written as ฿. If you are planning to travel to Bangkok, check out with your tour planner on the places to visit in Bangkok. You would need to exchange your money to Bangkok money or Thai Baht.
Bangkok currency or Thai Baht or simply Baht is divided into 100 Satangs. Satang is a subdivision of currency, equal to one hundredth of Bangkok money, i.e., 1 Baht = 100 Satangs. In Thailand, Bangkok currency notes are issued by the Bank of Thailand in the denomination of 20, 50, 100, 500 and 1000 Bahts. Coins of 25 and 50 Satangs are also used for transactions. The Baht has been the country’s currency since 1902. On the front side, the currency notes carry an image of King Maha Vajiralongkorn in Royal Thai Air Force uniform of the commander. On the other side, there are images of former kings of Thailand. Similarly, the coins, too, carry an image of King Maha Vajiralongkorn and the monogram of the king on the back side.
Pot duangs, popularly known as bullet coins, shells, baked clay coins were the means of transactions while exchanging goods prior to the initiation of Baht, the Thai currency. However, during the reign of King Mongkut in 1853, foreign trade gained a significant momentum. There was heavy demand to accommodate the money. So in order to do that, the first paper money named Mai was introduced. However, interestingly, people preferred to use pot duangs much as compared to Mai. So Mai never really attained that popularity or predominance ever. Around two decades later in the early 1870s, Att Kadrat, another currency under the reign of King Chulalongkorn was introduced. After another two decades in 1890s, a form of paper money, Ngoen Kradat Luang, was planned to get introduced but it never saw the light of the day. Thereafter in 1902, Baht came into being with the introduction of the Thai Department of Technology under Ministry of Finance and since then it has remained the Thai currency.
Here are some of the recent exchange rates of major currencies with respect to Thai Baht:
US$1 is equal to 30.56 Baht; I INR is equal to 0.43 Baht; 1 Euro is equal to 33.74 Baht and 1 GBP equals to 40 Baht. Instead of exchanging currencies of small denominations, you can exchange large value notes as it would give you a much better deal as compared to small notes but it is always better to do it in Bangkok itself as you can do it in affordable conversion charges. There are exchange offices in every nook and corner of the city, which are mostly run by the country’s major banks.
There has been an increasing growth in online transactions in Bangkok. Since the banks have waived off digital transaction fees recently, there has been a steady shift of customers opting for digital platforms and hence the country is aiming towards a cash-free society. In 2017, the government-initiated currency transfer and payment scheme, PromptPay, was initiated in Thailand and since then, digital payments have been growing exponentially. The digital transaction fees have been deducted in the subsequent years giving a mileage to the online transaction development. Although complete digital adoption will take some time, financial institutions are getting ready to launch electronic know-your customer (e-KYC) registration officially through biometric technology. This technology is a digital authentication service that enables consumers signing up for deposit accounts online or digital lending.
Tipping in Bangkok is neither at all obligatory nor customary. However, small token of gratitude and thankfulness towards a good service is always appreciated. There are quite a few restaurants where you would find a service charge of 10% included in the bill amount. It isn’t necessary then to leave any tip behind. However, if you are happy with the service and you see that no service has been added to the total bill, you may tip around 10% of the amount. In addition, any loose change in coins is normally left behind as tip. People in the service industry are paid not that well. So some staff positions in hotels are likely to be tipped. But how much you should tip actually depends on the quality of the hotel and its services.