Thai Baht
The Thai baht (also pronounced as "bath") is the national currency of Thailand. It is divided into 100 satang and uses coins and bills as legal tender.
. The bills vary in colour and in size according to their denomination: the 1,000 baht bill is white, the 500 baht bill is purple, the 100 baht bill is red, the 50 baht bill is blue, and the 20 baht bill is red.
“rare unless you shop at grocery stores”
The coins come in five denominations: 25 and 50 satang coins (rare unless you shop at department or grocery stores), and one, five, and ten baht coins.
There are still some 10 baht bills being used around Thailand, although these are rare.
It is considered extremely impolite to step on the baht, whether it is a bill or a coin, as all the legal tender have pictures of the King of Thailand. He is supposed to be accorded respect due to his high position.
A Baht of History
Thailand's history with its legal tender goes back to as far as 1,000 years.
As with the ancient societies around the world, barter was the preferred mode of trading in Thailand, with people using beads, bracelets, and even seeds to get what they needed.
Eventually, the country was introduced to coins made out of metal (copper, for example) by neighboring countries such as Indochina during the first 600 years.
Other periods of currency followed soon after, with currency design changing by the era.
Thailand was home to cowrie shells and clay coins, silver and copper pieces in boat designs from the 8th century extending until the 19th century.
Pot Duang (bullet money, named so because it looked so much like a bullet) is considered Thailand's most enduring legal tender.
It was first made during the Sukhothai era in the 14th century and remained in circulation until the reign of King Rama V 600 years later. King Rama V and King Rama IV were also responsible for issuing standardized bank notes and minted coins.
Thailand's first minting machine came courtesy of England's Queen Victoria, who presented it to the country, thus sparking the production of Thai silver coins.
The Thai baht had proved itself to be strong against other currencies, particularly the US dollar, from the end of the second World War up until the time of the Asian financial crisis. The value of the baht was then floated and was once pegged at 56 against the US dollar, but it is now currently floating around 40.