The baht (/bɑːt/; Thai: บาท, pronounced [bàːt]; sign: ฿; code: THB) is the official currency of Thailand. It is divided into 100 satang (สตางค์, pronounced [sà.tāːŋ]). Prior to decimalisation, the baht was divided into eight feuang (เฟื้อง, pronounced [fɯá̯ŋ]), each of eight att (อัฐ, pronounced [ʔat̚]). The issuance of currency is the responsibility of the Bank of Thailand. SWIFT ranked the Thai baht as the 10th-most-frequently used world payment currency as of December 2023.[1]
The Thai baht, like the pound, originated from a traditional unit of mass. Its currency value was originally expressed as that of silver of corresponding weight (now defined as 15 grams), and was in use probably as early as the Sukhothai period in the form of bullet coins known in Thai as phot duang.[2] These were pieces of solid silver cast to various weights corresponding to a traditional system of units related by simple fractions and multiples, one of which is the baht. These are listed in the following table:[3][4] Though the coins themselves have names like: solot, siao, phai, etc, the formal division of the Thai Baht/Tical is 1 baht = 8 feuang = 64 att. This means that one baht is divided into eight feuang, and each one feuang is divided into 8 att. Currently, the Thai baht do not employ the att as a subunit, but the att is the current subunit of the Laos Kip.
That system was in use up until 1897, when the decimal system devised by Prince Jayanta Mongkol, in which one baht = 100 satang, was introduced by his half-brother King Chulalongkorn along with the demonetization of silver bullet coins on 28 October 1904 after the end of silver bullet coin production by the opening of Sitthikarn Royal Mint in 1857.[5] However, coins denominated in the old units were issued until 1910, and the amount of 25 satang is still commonly referred to as a salueng, as is the 25-satang coin.
Until 27 November 1902, the baht was fixed on a purely silver basis, with 15 grams of silver to the baht. This caused the value of the currency to vary relative to currencies on a gold standard. From 1856 to 1864, the values of certain foreign silver coins were fixed by law, with 5 baht = 3 Spanish dollar = 7 Indian rupees.[6] Before 1880 the exchange rate was fixed at 8 baht per pound sterling, falling to 10 to the pound during the 1880s.
In 1902, the government began to increase the value of the baht by following all increases in the value of silver against gold but not reducing it when the silver price fell. Beginning at 21.75 baht per pound sterling, the currency rose in value until, in 1908, a fixed peg to the British pound sterling was established of 13 baht per pound. This was revised to 12 baht in 1919 and then, after a period of instability, to 11 baht in 1923. During World War II, the baht was fixed at a value of one Japanese yen on 22 April 1942.[7][8]
From 1956 until 1973, the baht was pegged to the US dollar at an exchange rate of 20.8 baht = one dollar and at 20 baht = 1 dollar until 1978.[9] [10] A strengthening US economy caused Thailand to re-peg its currency at 25 to the dollar from 1984 until 2 July 1997, when the country was affected by the 1997 Asian financial crisis. The baht was floated and halved in value, reaching its lowest rate of 56 to the dollar in January 1998. It rose to 30 per dollar in January 2021.
The baht was originally known to foreigners by the term tical,[11] which was used in English language text on banknotes until the series 2 1925.[12][13]
The currency symbol for the baht is ฿ (a latin letter B with a vertical stroke). In 1986, this symbol was given a codepoint for computer use in the Thai Industrial Standard 620-2533 (Thailand's extension of ASCII), at position 0xDF. This national standard was subsequently subsumed into international standards as ISO/IEC 8859-11 ("ISO Latin-Thai"). In turn, the ISO 8859 series were transposed into the Unicode standard,[14] where the symbol was allocated the codepoint U+0E3F ฿ THAI CURRENCY SYMBOL BAHT.[15]
In Thai usage, the baht (บาท) is legally abbreviated as บ. according to Section 7 of the Currency Act, B.E. 2501.[16]
For a time, the baht symbol was appropriated by some as a symbol for Bitcoin, a cryptocurrency. Following representations,[17] a separate code point (U+20BF ₿ BITCOIN SIGN, a latin letter B with two vertical strokes) was allocated in Unicode version 10.0.[18]
In Unicode 1.0, two codepoints were allocated to the baht, one as the currency symbol in the Thai range and one in the CJK Compatibility block as a square version of the Japanese word for "baht", written in katakana script.[19] The CJK codepoint, U+332C ㌬ SQUARE PAATU, is documented in subsequent versions of the standard as "a mistaken, unused representation" and users are directed to U+0E3F ฿ THAI CURRENCY SYMBOL BAHT instead.[20] Consequently, only a few computer fonts have any content for this codepoint and its use is deprecated.[19]
(The Japanese for "baht" is バーツ (bātsu). However, the reference glyph ⟨㌬⟩ and the character name correspond to パーツ (pātsu, from English "parts").[19])
Cowrie shells from the Mekong River had been used as currency for small amounts since the Sukhothai period. Before 1860, Thailand did not produce coins using modern methods. Instead, a so-called "bullet" coinage was used, consisting of bars of metal, thicker in the middle, bent round to form a complete circle on which identifying marks were stamped.[21][22] Denominations issued included 1⁄128, 1⁄64, 1⁄32, 1⁄16, 1⁄8, 1⁄2, 1, 1+1⁄2, 2, 2+1⁄2, 4, 4+1⁄2, 8, 10, 20, 40 and 80 baht in silver and 1⁄32, 1⁄16, 1⁄8, 1⁄2, 1, 1+1⁄2, 2 and 4 baht in gold. One gold baht was generally worth 16 silver baht. Between 1858 and 1860, foreign trade coins were also stamped by the government for use in Thailand.
Rama III (1824–1851) was the first king to consider the use of a flat coin. He did so not for the convenience of traders, but because he was disturbed that the creatures living in the cowrie shells were killed. When he learned of the use of flat copper coins in Singapore in 1835, he contacted a Scottish trader, who had two types of experimental coins struck in England. The king rejected both designs. The name of the country put on these first coins was Muang Thai, not Siam.[24][25]
In 1860, modern style coins were introduced. These were silver 1 sik, 1 fuang, 1 and 2 salung, 1, 2 and 4 baht, with the baht weighing 15.244 grams and the others weight-related. Tin 1 solot and 1 att followed in 1862, with gold 2+1⁄2, 4 and 8 baht introduced in 1863 and copper 2 and 4 att in 1865. Copper replaced tin in the 1 solot and 1 att in 1874, with copper 4 att introduced in 1876. The last gold coins were struck in 1895.
The first issue of coins were commissioned by Rama IV, though it was never brought into circulation. This was one of the first attempt to replace the bullet coins, but few were ever minted without making it into circulation.[26]
The first circulating issue of the Siamese coins. This marks the start of the move away from using phot duang currency. Though in this era, phot duang are still legal tender. In this series, the lower denominations are made of silver, and the higher ones are made of gold. These higher denominations are given nicknames: Paddueng, Pit, and Tot. Paddueng means thirty two, as in 1/32 of a chang, the other nick name is the chinkang or one chinese tamlueng.[27] The pit means twenty, as in 1/20 of a chang, the other name is ekkang, or one thai tamleung.[28] The tot means ten, as in 1/10 of a chang, the coin is also called thukkang, which means two tamlueng.[29] In the lower denominations materials such as tin, copper and brass are used, since these are quite low value.
The first series to depict king Rama V, this issue coins are made of copper, silver, and gold. Though, gold is strangely only used in the 1 feuang denomination.[30] The new shield emblem is introduced in this issue. This shield is separated into three section, drawing from western influences, symbols within these sections represents territories Siam is controlling. The tree headed elephant represents Siamese territory, the bottom-left elephant represent Lan Xang, and the warangka represents Siamese Malaya.
This is a minor-issue where the lesser denominations' designs are updated, and incorporating the three-parted shield into the design.
The decimalization of the Thai Baht came about at the end of the 19th century. The minister of treasury, Jayanta Mongkol, the Prince Mahisara Rajaharudaya, suggested to King Rama V, that decimalization would make counting easier and further modernize Siam. Initially, there would be one superunit, chang, and subunit, att. with the baht being in the middle. In summary, 64 att = 1 baht = 1/80 chang. In reality, this was just a simplification of the old system, which was scrapped.[31] In which, during the period of 1902–1908, Siam went back to the old system.
Though, in comparison, in Laos, att is used as the subunit, compared to the satang in the Thai Baht.
The second attempt came at the end of Rama V's reign, where it was more widely accepted and put into effective use.
In 1897, the first coins denominated in satang were introduced, cupronickel 2+1⁄2, 5, 10 and 20 satang. However, 1 solot, 1 and 2 att coins were struck until 1905 and 1 fuang coins were struck until 1910. In 1908, holed 1, 5 and 10 satang coins were introduced, with the 1 satang in bronze and the 5 and 10 satang in nickel. The 1 and 2 salung were replaced by 25 and 50 satang coins in 1915. In 1937, holed, bronze 1⁄2 satang were issued.
In 1941, a series of silver coins was introduced in denominations of 5, 10 and 20 satang, due to a shortage of nickel caused by World War II. The next year, tin coins were introduced for 1, 5 and 10 satang, followed by 20 satang in 1945 and 25 and 50 satang in 1946. In 1950, aluminium bronze 5, 10, 25 and 50 satang were introduced whilst, in 1957, bronze 5 and 10 satang were issued, along with 1-baht coins struck in an unusual alloy of copper, nickel, silver and zinc. Several Thai coins were issued for many years without changing the date. These include the tin 1942 1 satang and the 1950 5 and 10 satang, struck until 1973, the tin 1946 25 satang struck until 1964, the tin 50 satang struck until 1957, and the aluminium bronze 1957 5, 10, 25 and 50 satang struck until the 1970s. Cupronickel 1-baht coins were introduced in 1962 and struck without date change until 1982.
In 1972, cupronickel 5-baht coins were introduced, switching to cupronickel-clad copper in 1977. Between 1986 and 1988, a new coinage was introduced, consisting of aluminium 1, 5 and 10 satang, aluminium-bronze 25 and 50 satang, cupronickel 1 baht, cupronickel-clad-copper 5 baht and bimetallic 10 baht. Cupronickel-clad-steel 2 baht were introduced in 2005.
The current coin series is the 14th issue.
In 2008, in the 13th issue, the Ministry of Finance and the Royal Thai Mint announced the 2009 coin series, which included changes in materials to reduce production costs as well as an update of the image on the obverse to a more recent portrait of the king. The two-baht coin, confusingly similar in color and size to the one-baht coin, was changed from nickel-clad low-carbon steel to aluminium bronze. New two-baht coin was the first of the new series released on February 3, 2009, followed by the satang coins in April, a five-baht coin in May, a ten-baht coin in June, and a one-baht coin in July 2009.
In 2018, the Royal Thai Mint and the Ministry of Finance issued a new series of general circulation coins, featuring the same standard specifications, but feature a portrait of its current king, Maha Vajiralongkorn.
In February 2010 the Treasury Department of Thailand stated that it has been planning a new circulation 20-baht coin.[34]
In 1851, the government issued notes for 1⁄8, 1⁄4, 3⁄8, 1⁄2 and 1 tical, followed by 3, 4, 6 and 10 tamlueng in 1853. After 1857, notes for 20 and 40 ticals were issued, also bearing their values in Straits dollars and Indian rupees. Undated notes were also issued before 1868 for 5, 7, 8, 12 and 15 tamlueng, and 1 chang. One att notes were issued in 1874.
In 1892, the treasury issued notes for 1, 5, 10, 40, 80, 100, 400 and 800 ticals, called "baht" in the Thai text.
On September 19, 1902, the government introduced notes which were printed by Thomas De La Rue & Company Limited, England, during the reigns of kings Rama V and Rama VI, denominated 5, 10, 20, 100 and 1000 ticals, still called baht in the Thai text — each denomination having many types,[35] with 1 and 50 tical notes following in 1918. In 1925, notes were issued in denominations of 1, 5, 10, 20, 100 and 1,000 baht with the denomination in both Arabic and Thai numerals without English text;[36] English speakers continued to refer to these as "ticals".[37]
On 27 July 2010, the Bank of Thailand announced that the 16th-series banknotes would enter circulation in December 2010.[38][39] On 9 August 2012, the Bank of Thailand issued a new denomination banknote, 80 baht, to commemorate queen Sirikit's 80th birthday.[40] It was the first Thai banknote that featured Crane's MOTION security thread.
In 2017, the Bank of Thailand announced a new family of banknotes in remembrance of its late king Bhumibol Adulyadej (Rama IX). The notes are the same size and dimensions as the "Series 16" banknotes, with the front designs as before, but the back designs featuring images of the king's life in infancy, adolescence and maturity. The new family of banknotes were issued on September 20.[41]
In 2018, the Bank of Thailand announced a new family of banknotes featuring a portrait of its current king, Maha Vajiralongkorn. The main colors and dimensions of the notes are the same as before, with the back designs featuring images of the Kings of Thailand from past to present. The 20, 50 and 100 baht banknotes were issued on Chakri Memorial Day, April 6, 2018. The final two denominations, 500 and 1,000 baht were issued on the anniversary of the birth of King Maha Vajiralongkorn, July 28, 2018.[42]
Images of banknotes have been removed lest they infringe copyright,[43] but may be viewed at the Thai-language article linked in the margin.
These banknotes series are not demonitized, hence would be legal tender. Though, they are never seen in circulation anymore.
These banknotes images are allowed under a strict copyright infringement exemption under the Chapter 1: Copyright, Part 6: Exceptions to Infringement of Copyright, Clause 7 of Copyright Act B.E. 2537 (1994) Amended by Copyright Act (NO. 2) B.E. 2558 (2015), and Copyright Act (NO.3) B.E. 2558 (2015) and Copyright Act (NO.4) B.E. 2561 (2018): reproduction, adaptation in part of a work or abridgement or making a summary by a teacher or an educational institution so as to distribute or sell to students in a class or in an educational institution, provided that the act is not for profit;[4]
So as to serve as an educational material, only one side is shown, and any series beyond series 13 is omitted.
Series 9 banknotes are produced by Thomas De La Rue & Company Limited. There are two variations within this series, the young, and new portrait. According to the Bank of Thailand, the color schemes of this series established the denominations' colors for all of the following series due to the series circulating for 20 years.[56]
1955-1969
1953-1969
1955-1971
1955-1968
Series 10 banknotes are produced by Thomas De La Rue & Company Limited, due to heavy counterfeiting, series 10 was issued in series 9's stead.[57] The 100 baht is the only denomination issued in this series.
In this series, the 500 baht note was introduced for the first time ever, this coincides with the Bank of Thailand fully converting to an in-house production.[58] As a consequence, the 1 baht note's production was cancelled.
Series 12 and 13 aims to glorify past thai monarchs, the Bank of Thailand dubbed this as "The Great Series". The 5 baht note's production was cancelled. The note 50 baht and 500 baht are a part of series 13, and was issued to commemorate the bicentennial celebration of Bangkok in 1982, though the production had to be delayed for the new printing press to be installed.[59]
Series 3 type ii banknotes are produced by Thomas De La Rue & Company Limited. It is the first series to hold Rama 8's portrait, which replaced Rama 7's portrait in the Type I.
Series 4 type i banknotes are produced by Thomas De La Rue & Company Limited.
Series 4 type ii banknotes are produced by Royal Thai Survey Department and the Naval Hydrographic Department. During world war 2, Thailand allied with the Empire of Japan. This meant that the government of Thailand could not order banknotes from Thomas De La Rue & Company Limited.
Series 5 banknotes are produced by Notes Printing Works of Japan.
Series 6 banknotes are produced by Royal Thai Survey Department.
Series 7 banknotes relied on private printing under the supervision of the Bank of Thailand. According to the Bank of Thailand, the quality of this series was barely satisfactory.
The special series are banknotes which were issued during world war 2, each at different times.
At the end of world war 2, Thomas De La Rue & Company Limited's printing house suffered damage from German bombing, thus the Royal Thai Government turned to the United States government to produce the series 8. The Tudor Press company produced this series.
Series 2 banknotes are produced by Thomas De La Rue & Company Limited.
Series 3 type i banknotes are produced by Thomas De La Rue & Company Limited. This series was actually delayed due to the Siamese Revolution to abolish the absolute monarch and transform the institution into a constitutional monarchy. The issuance was supposed to happen in the early 1930s.
Series 1 was chosen due to the series which precedes this were non-decimal. Series 1 banknotes is the first series to be produced by Thomas De La Rue & Company Limited. In 1900, Charles James Rivett Carnac, a Royal Treasury Ministry advisor proposed that the Siamese Baht followed the issuances of banknotes followed the British standard. The banknote department was established quickly thereafter. The main characteristic of this series was that the notes are onesided and multilingual, containing Chinese, Malay (in Jawi script), and Latin script.[60] It was also the last series to use the term "tical" to refer to the Thai Baht, and the largest in term of size of circulated notes.
The characteristic of the banknotes of this era is that there were no series issued at the same time, rather they are issued sporadically and have multiple banks producing their own banknotes.
方壹 Octava Pars Ticalis One eights of tical
銭壹 Quartia pars ticalis One quarter of tical
方銭壹 Tres octava partes ticalis Three eights of tical
銭貳 Media pars ticalis One half of tical
方銭貳 Quinque octava partes ticalis Five eights of tical
銭參 Tres partes ticalis Three quarter of tical
方銭參 Septem octava Pars Ticalis Seven eights of tical
圓壹 Unus tcalis One tical
Ngoen (เงิน) is Thai for "silver" as well as the general term for money, reflecting the fact that the baht (or tical) is foremost a unit of weight for precious metals and gemstones. One baht = 15.244 grams.[61] Since the standard purity of Thai gold is 96.5 percent, the actual gold content of one baht by weight is 15.244 × 0.965 = 14.71046 grams; equivalent to about 0.473 troy ounces. 15.244 grams is used for bullion; in the case of jewellery, one baht should be more than 15.16 grams.
The Bank of Thailand adopted a series of exchange controls on 19 December 2006, which resulted in a significant divergence between offshore and onshore exchange rates, with spreads of up to 10 percent between the two markets. Controls were broadly lifted on 3 March 2008 and there is now no significant difference between offshore and onshore exchange rates.[62]
(Source 1999–2013: usd.fx-exchange.com)
(Source 2014–2020: Bank of Thailand) [5] Archived 2021-01-23 at the Wayback Machine
From the earliest times in Southern Burma, the weight adopted were not the Chinese liang or tael or its variants, but the Indian bahur and the viss, the latter being divided into 100 ticals. It is this Burmese tical, which was and continues to be in Burma the designation of a definite weight of uncoined silver or its compound, that throws light on the problem of the Thai tical.
each denomination had many types which were printed by Thomas De La Rue & Company Limited, England.
The design was printed only on one side; so the note was called 'Uniface banknote'. There were 7 denominations....
on the back side was the picture of the Royal Ploughing Ceremony. This type of banknote was called "Ploughing Ceremony Note".
Does Japan dominate Siam?" I asked a leading Englishman in Bangkok. He laughed quietly: "Have you any Siamese money?" he asked. I drew out a five-ticul note (about 2 dollars 50c). "Read what is printed at the foot of the note", he commanded. I read, "Thomas de la Rue and Co., London". With calm confidence he said: "As long as the word 'London' stands on that Siamese bill, it is not Japan but another little island which will have the larger say in the Kingdom of Siam.
new Thai banknote will circulate in December 2010
In Thailand, the Bank of Thailand (BOT) has the sole right to design, produce, issue, circulate and manage Thai banknotes. The reproduction of Thai banknotes is protected by the Copyright Act B.E. 2537 Ch.1 Pt.5 §27 (2) communication to public.
Lokasi Pengunjung: 3.12.164.107