What is the currency in Thailand?

Thailand’s currency is the Thai baht, abbreviated THB and symbolised by ฿.

One baht equals 100 satang, with The Bank of Thailand (the country’s central bank) issuing all baht notes and coins. The baht has been Thailand’s national currency since 1897, representing one of the world’s most-used currencies today. SWIFT ranks it as the 10th most frequently used payment currency globally (as of 2023). In practice, the baht is used only in Thailand and its territories, although neighbouring countries (Cambodia, Laos, etc.) accept it informally in border areas.

Using Thailand’s currency

In Thailand, you will use baht for everything from street food to hotel stays. Fortunately, Thailand is known for its low cost of living, so a given amount of baht goes further than in many Western countries. For example, staple groceries and meals in Thailand can cost 30–60% less than in the US/UK, and a local draft beer may be only ~฿70 (about US$2). As we’ve noted before, Thailand’s very low cost of living is a major draw for digital nomads and expats. In practice, knowing the baht’s value helps anyone travelling or doing business in Thailand to get better value.

For investors or companies, the baht’s value is a reflection of Thailand’s economy. A strong baht (as seen in 2025) can make Thai exports more expensive abroad, while a weak baht helps exporters but raises import costs. Its stability is also important for those saving or investing in Thailand; the Bank of Thailand’s policies (peg or float) affect exchange rates. Overall, the health of the baht signals Thailand’s economic trends – from export performance to tourism revenue.

The baht’s origins and symbol

Thailand’s currency has deep historical roots. In ancient Siam, even everyday objects served as money. For example, cowrie shells (tiny sea-shells) were once used as small change, and even represented gambling tokens in early Thai history. Cast metal “bullet” coins (called photduang) and flat lat bars emerged later. These cast silver units formed a traditional system of weights, where one baht originally meant a fixed weight of silver (15 g). Over time, the baht evolved: it was originally known in English as the “tical” on old banknotes (a term used until 1925). The modern baht took shape in the late 19th century.

In 1897, Thailand decimalised its currency under King Chulalongkorn. From that year on, 1 baht = 100 satang. (Before 1897, the baht was divided into 8 fueang, each of 8 at – a complex system). With decimalisation came new coins and banknotes. By 1902, Thailand moved away from a silver standard, eventually pegging the baht to major currencies. After decades of pegging (to the British pound and then the US dollar), the baht was floated freely following the 1997 Asian financial crisis. Its lowest point was around ฿56 per US$ in 1998; by 2021, it had strengthened back to roughly ฿30/$1.

The baht’s symbol is ฿ – a stylised Thai letter “บ” (B) with a vertical line. This symbol was codified in Thai standards in the 1980s and is now recognised worldwide, even appearing in Unicode.

Coins, banknotes and issuance

Banknotes and coins are the face of the baht today. Current banknotes come in five common values: ฿20, ฿50, ฿100, ฿500 and ฿1,000. Each features a portrait of the King of Thailand and national imagery. On the coins side, the everyday coins are ฿1, ฿2, ฿5 and ฿10 (the latter are large, brass-coloured coins) plus 25-satang and 50-satang pieces. (One baht is equal to 100 satang, so two 50-satang coins = ฿1.) Smaller coins (1, 5, 10 satang) and old large coins (฿5, ฿10 from the 1960s) exist but are rarely used now.

All Thai money is issued by the Bank of Thailand. The BOT designs and prints banknotes and mints coins (with the Royal Thai Mint). It also maintains currency reserves (over US$273.2 billion as of September 2025) and monitors the baht’s stability. The baht is fully convertible and floats, meaning there is no official peg (the “฿100 per $3” exchange rates change daily on the world market, not fixed by the government). Any temporary controls (e.g. on large transfers) are now minimal; in normal use, one baht onshore equals one baht offshore.

Recent trends

Over the past few years, world events have played an important role in determining the value of the baht, due to shocks and changes that occurred around the world. At the beginning of the COVID-19 pandemic, during 2020, it actually decreased slightly, touching multi-year lows of between 32-34 baht per US dollar. But as vaccinations went on and tourism started again, its value appreciated to the low-30 range between 2021-2024. Then, at the start of 2025, its appreciation trend continued, appreciating by more than 8% year-to-date, relative to the value of the US dollar. However, this appreciation trend might have had adverse effects on Thailand’s export and tourism sectors, due to a lack of competitiveness. At the start of 2025, BOT monetary authorities observed that the baht’s value was adversely affecting Thai exports and causing its inflation rate to remain too low. Consequently, they announced that monetary policies would remain supportive.

Future outlook for the Thai baht

Looking ahead, most analysts expect moderate exchange-rate moves. If Thailand’s new government and central bank stimulate the economy (e.g. rate cuts), the baht may weaken slightly to ease export pressure. Conversely, if global investors remain risk-on, the baht could stay strong. One thing is clear: the Thai baht will continue to reflect both domestic policies and international trends. (By late 2025, forecasts saw Thailand’s economy growing ~2.0-2.5%, which should broadly support the baht.)

Currency traders and expatriates will watch for key signals – for example, another interest rate change by the BOT, or shifts in tourism and export data. Any major political or fiscal changes in Thailand could also move the baht. But with low public debt, strong foreign reserves and a diverse economy, Thailand’s baht is generally expected to remain stable over the medium term. For travellers and businesses, this means relative predictability: each baht will continue to be worth about 1/30 of a US dollar (give or take a few baht) unless global conditions change sharply.

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