Andys Real Guide to Thailand

Money & Banks

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At the close of business in Bangkok on Friday, 7^th December 2007 rates on the Baht were;

USD	34.0	GBP	68.9	AUD	29.8
EUR	49.8	SEK	5.31	JPY	0.31
SGD	23.7	HKD	4.41	MYR	10.3

Baht when selling 1 unit of foreign currency

The currency symbol for the Thai baht is

. It's written after the number, e.g.

. That said, the symbol is not in everyday use and prices are normally shown using the full Thai word (

) written after the value.

Thailand is very tourist friendly when it comes to money. Don't bother getting Thai currency before you come as you'll get a far better rate at Bangkok airport. Better still walk into a decent bank and change your money there, Thai Farmer Banks give the best rates, with Bangkok Bank close behind.

Banks tend to keep traditional hours - opening between 09:30 and 15:30. In tourist areas you will normally find a foreign exchange counter which stay open much later.

If your ATM card has a visa or mastercard symbol, then it will likely work in most ATM's here.

Thailand is still very much a cash society. Credit/Debit cards are only accepted in a comparatively small number of shops and hotels. Forget about trying to buy train/bus tickets or paying taxis with cards. When using plastic for largish purchases you should expect to pay the charge the company will deduct from from the shop (3-5%) on top of the total amount. Shops usually want this amount in cash.

Major foreign currencies are sometimes accepted at larger hotels, and the exchange rate is generally quite favourable. Elsewhere, even the mighty US Dollar is not accepted. Thus if you're an American your roll of dollar bills won't do anything for you, at least until you change them at a bank - This isn't Laos or Cambodia.

Tip: There are still a few touts around that offer blackmarket currency exchange, usually as a money laundering practice. My advice is to give them a wide birth, the authorities are pretty strong on this, you'll likely end up in police cell.

It might be slightly larger, but the largest Thai note in circulation, the 1000 Baht note is worth half as much as the $50. Note dual use of Arabic and Thai numerals for both the value (bottom) and the serial number (top)

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