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 fueang (เฟื้อง, pronounced[fɯá̯ŋ]), each of eight at (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]
This infobox shows the latest status before this currency was rendered obsolete.
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 photduang.[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, sik, etc, the formal division of the Thai baht (tical) is 1 baht = 8 fueang = 64 at. This means that one baht is divided into eight fueang, and each one fueang is divided into 8 at. Currently, the Thai baht do not employ the at as a subunit, but the at is the current subunit of the Lao kip.
This predecimal 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]
Currency symbol
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]
The symbol is also used for the Panamanian balboa.[16]
Abbreviation
In Thai usage, the baht (บาท) is legally abbreviated as บ. according to Section 7 of the Currency Act, B.E. 2501.[17]
Bitcoin
For a time, the baht symbol was appropriated by some as a symbol for Bitcoin, a cryptocurrency. Following representations,[18] a separate code point (U+20BF₿BITCOIN SIGN, a latin letter B with two vertical strokes) was allocated in Unicode version 10.0.[19]
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.[20] 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.[21] Consequently, only a few computer fonts have any content for this codepoint and its use is deprecated.[20]
(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").[20])
Historical symbols used before decimalization
Before decimalization, the Siamese government employed Chinese, Latin, Jawi (Malay), Devanagari, Khmer and Khom, Lanna, and Burmese scripts in banknotes and coins, as seen. The reason is not clear, though it is a common understanding that it is to ease the facilicitation of trade within Siam. It could also be the case that at the time, the capital, Bangkok (Phra Nakhon) was still a multi-cultural city, so as to be more inclusive, the government added various other language onto the currency - though by the second series after the decimalization in the 1900s, the currency was all but monolingual.
圓; yuán (บาท): This character was use during the times of Rama IV to represent baht, though this was phased out by another character which is in partially and informally used today. The only occurrence of this character was in Rama IV's banknote series.
銖; 铢; zhū (บาท): This character was in use from 1868–1925 officially on banknotes to represent baht. It is still in use today unofficially to refer to the Thai baht in general, as in 泰銖 or 泰铢.
錢; 銭; qián (สลึง): This character was in use from 1851–1908 officially on banknotes and coins to represent salueng.
方; fāng (เฟื้อง): This character was in use from 1851–1908 officially on banknotes and coins to represent fueang.
The notation for these chinese character are written like they are in Thai, though there is a caveat: it is written right to left, as was the convention back then, so one baht is written 圓壹 or 銖壹, if there are smaller units involved the notation can write like such: 方銭參圓壹 for one baht, three salueng, and one fueang.
Coins
Summary
Summary of predecimal tical coins
Series/Value
1/16 Fueang (1 Solot)
1/8 Fueang (1 At)
1/4 Fueang (1 Siao)
1/2 Fueang (1 Sik)
1 Fueang (1 Fueang)
1/4 Ticals (1 Salueng)
1/2 Ticals (2 Salueng)
1 Tical (1 Baht)
2 Ticals (2 Baht)
2 1/2 Ticals (2 Baht 2 Salueng)
4 Ticals (1 Tamlueng)
8 Ticals (2 Tamlueng)
Issue 1 (1856)
Issue 2 (1860)
Issue 3 (1875)
Issue 4 (1888)
Summary of decimal baht coins
Series/Value
0.5 Satang
1 Satang
2.5 Satang
5 Satang
10 Satang
20 Satang
25 Satang
50 Satang
1 Baht
2 Baht
5 Baht
10 Baht
Issue 5 (1897)
Issue 6 (1908, 1913, 1939)
Issue 6.5 (1929)
Issue 7 (1937, 1941, 1942, 1945)
Issue 8 (1946)
Issue 9 (1950)
Issue 10 (1972)
Issue 11 (1977)
Issue 12 (1982)
Issue 13 (1987, 2005, 2008, 2009)
Issue 14 (2018)
Photduang coinage
Example of the spanish dollar which was marked with the Siamese government's emblem - marking that it is legal tender.
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.[22][23] 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.
Sukhothai and Ayutthaya photduang
Photduang, a form of currency used during the Sukhothai period, was characterized by its longer legs, which created a larger and wider hole in the middle. These coins were primarily made of silver and featured a cut across the front of each leg. This cut served a dual purpose: it authenticated the money and allowed for the quality of the silver to be tested. Over time, as the Sukhothai Kingdom declined and became a vassal state of Ayutthaya—which was established as the capital in 1350—the design of photduang evolved. The coins became rounder with shorter legs, and the central hole, while still present, grew smaller. By the end of this era, the hole disappeared completely. The cuts on the legs also reduced in size and were eventually replaced by a small elliptical nick, known as "Met Kao San," on one side of the coin.[24]
Thonburi and Rattanakosin photduang
The Thonburi period (1767–1782) and the Rattanakosin period, beginning in 1782, adopted the photduang design from the late Ayutthaya period. The coins from these periods had no central hole, and the legs were even shorter. A key difference was that Thonburi photduang lacked the elliptical nick, whereas the Rattanakosin coins reintroduced this feature, similar to the Ayutthaya coins. Photduang from these later periods typically featured two stamped marks: the dynasty mark on top and the king's personal mark on the front part. The dynasty mark often symbolized the kingdom's ruling dynasty, while the king's personal mark represented the reigning monarch.[24]
Markings on the photduang
The markings on photduang coins varied across different periods. During the Sukhothai era, some coins bore no marks, while others had up to 11. This variation was because, at that time, individuals and merchants could produce their own money. However, from the Ayutthaya period onward, the production of photduang was monopolized by the government, making it easier to identify coins from each era. Ayutthaya photduang typically bore two marks: the dynasty mark, which could be a spoked wheel symbolizing the "Wheel of Law" from Buddhist teachings or the Chakra (Vishnu's weapon), represented by a pattern of 8 dots surrounding a central dot. The king's personal mark varied with each ruler and included symbols such as a conch shell, a Garuda bird (khrut), an elephant, and an anchor, each symbolizing different aspects of the king's reign or divine associations.[24]
Photduang of the Thai tical (Rama III & Rama IV)[26]
Image
Names
Value
Width (mm)
Weight (g)
Composition
Inscription, description
Date of issue
Primary
Secondary
in silver baht
in gold baht
Bia เบี้ย
1⁄6400
1⁄102400
25
1.58
Calcium carbonate
None
1238–1869
Half Phai กึ่งไพ
At อัฐ
1/64
1/1024
2
0.25
Silver
State ensign of Rattanakosin
1824–1851
Phai ไพ
1/32
1/512
4
0.5
Silver
State ensign of Rattanakosin Castle
1824–1856
2 Phai สองไพ
Half Fueang กึ่งเฟื้อง
1/16
1/256
6
1
Silver
State ensign of Rattanakosin Castle
1824–1856
Fueang เฟื้อง
1/8
1/128
6.5
1.98
Silver
State ensign of Rattanakosin Castle
1824–1856
Salueng สลึง
1/4
1/64
9
3.7
Silver
State ensign of Rattanakosin Castle
1824–1856
2 Salueng สองสลึง
Half Baht กึ่งบาท
1/2
1/32
11
7.6
Silver
State ensign of Rattanakosin Castle
1824–1856
Baht บาท
1
1/16
14.5
15.14
Silver
State ensign of Rattanakosin Castle
1824–1856
Gold 2 Phai สองไพทอง
Gold Half Fueang กึ่งเฟื้องทอง
1
1/16
5
1
Gold
State ensign of Rattanakosin Phra Maha Mongkut seal
1851–1856
2 Baht สองบาท
Half Tamlueng กึ่งตำลึง
2
1/8
17.5
30.30
Silver
State ensign of Rattanakosin Castle
1824–1856
Gold Fueang เฟื้องทอง
2
1/8
6
1.5
Gold
State ensign of Rattanakosin Phra Maha Mongkut seal
1851–1856
4 Baht สี่บาท
Tamlueng ตำลึง
4
1/4
23.5
60.50
Silver
State ensign of Rattanakosin Castle
1824–1856
Gold Salueng สลึงทอง
4
1/4
8
3.7
Gold
State ensign of Rattanakosin Phra Maha Mongkut seal
1851–1856
Gold 2 Salueng สองสลึงทอง
Gold Half Baht กึ่งบาททอง
8
1/2
9.5
7.56
Gold
State ensign of Rattanakosin Phra Maha Mongkut seal
1851–1856
Gold Baht บาททอง
16
1
12
15.14
Gold
State ensign of Rattanakosin Phra Maha Mongkut seal
1851–1856
Gold 2 Baht สองบาททอง
Gold Half Tamlueng กึ่งตำลึงทอง
32
2
16
30.01
Gold
State ensign of Rattanakosin Phra Maha Mongkut seal
1851–1856
40 Baht สี่สิบบาท
Half Chang กึ่งชั่ง
40
2.5
48
606.5
Silver
State ensign of Rattanakosin Phra Maha Mongkut seal
1860
80 Baht แปดสิบบาท
Chang ชั่ง
80
5
59
1216
Silver
State ensign of Rattanakosin Phra Maha Mongkut seal
1859
Predecimal coinage
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.[27][28]
In 1860, modern-style coins were introduced. These were silver 1 sik; 1 fueang; 1 and 2 salueng; 1, 2, and 4 baht; with the baht weighing 15.244 grams and the others weight-related. Tin 1 solot and 1 at followed in 1862, with gold 2+1⁄2, 4, and 8 baht introduced in 1863 and copper 2 and 4 at in 1865. Copper replaced tin in the 1 solot and 1 at in 1874, with copper 4 at introduced in 1876. The last gold coins were struck in 1895.
Coin timeline
Issue 1 - 1856 (transitional)
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.[29]
Issue 1 coins (Rama IV)
Image
Value
Dimensions (mm)
Weight (g)
Composition
Inscription, description
Date of issue
Obverse
Reverse
Name
Coinage value
Obverse
Reverse
Fueang เฟื้อง
1 fueang, 1/8 baht
15
1.8
Gold
Phra Maha Mongkut seal
กรุงเทพ (Krung Thep)
1856
Fueang เฟื้อง
1 fueang, 1/8 baht
12.5
1.85
Silver
Chakra (top), Phra Tao (middle) Phra Maha Mongkut seal (bottom)
none
1856
Salueng สลึง
1/16 tamlueng, 1/4 baht
16
3.8
Silver
Chakra (top), Phra Tao (middle) Phra Maha Mongkut seal (bottom)
none
1856
Issue 2 - 1860
The first circulating issue of the Siamese coins. This marked the start of the move away from using photduang currency. Though in this era, the photduang were still legal tender. In this series, the lower denominations were made of silver, and the higher ones were made of gold. These higher denominations were given nicknames: pot dueng, pit, and tot. Pot dueng means thirty two, as in 1/32 of a chang. The other nickname was the chinkang or one Chinese tamlueng.[30] The pit means twenty, as in 1/20 of a chang, the other name is ekkang, or one thai tamlueng.[31] The tot means ten, as in 1/10 of a chang. The coin was also called thukkang, which means two tamlueng.[32] In the lower denominations materials such as tin, copper and brass are used, since these are quite low value.
Issue 2 coins (Rama IV)
Image
Value
Dimensions (mm)
Weight (g)
Composition
Inscription, description
Date of issue
Obverse
Reverse
Name
Coinage value
Obverse
Reverse
Solot โสฬส
1/16 fueang, 1/128 baht
23 × 2
4
Tin
Phra Maha Mongkut seal with no star
State ensign of Siam สิบ หก อัน เป็น เฟื้อง 1/16 F. 方 片 六 十
1862
At อัฐ
1/8 fueang, 1/64 baht
29 × 2
7.2
Tin
Phra Maha Mongkut seal with no star
State ensign of Siam แปด อัน เปน เฟื้อง 1/8 F. 方 片 捌
1862
Siao เสี้ยว
1/4 fueang, 1/32 baht
22 × 3
7.55 3.55
Copperฺ Brass
Phra Maha Mongkut seal with no star
State ensign of Siam สี่ อัน เปน เฟื้อง 1/4 F. 方 片 四
1865
Sik ซีก
1/2 fueang, 1/16 baht
29 × 3
10~ 7.61
Copper Brass
Phra Maha Mongkut seal with no star
State ensign of Siam สอง อัน เปน เฟื้อง 1/2 F. 方 片 二
1865
Half Fueang ครึ่งเฟื้อง
1/2 fueang, 1/16 baht
13 × 1
0.92
Silver
Phra Maha Mongkut seal with no star
State ensign of Siam with no star
1860
Fueang เฟื้อง
1 fueang, 1/8 baht
16 × 1
1.84
Silver
Phra Maha Mongkut seal with 1 star
State ensign of Siam with 1 star
1860
Salueng สลึง
1/16 tamlueng, 1/4 baht
22 × 1
3.7
Silver
Phra Maha Mongkut seal with 2 stars
State ensign of Siam with 2 stars
1860
Half Baht ครึ่งบาท
1/8 tamlueng, 1/2 baht
27 × 1
7.46
Silver
Phra Maha Mongkut seal with 4 stars
State ensign of Siam with 4 stars
1860
Baht บาท
1/4 tamlueng, 1 baht
31 × 1
15.45
Silver
Phra Maha Mongkut seal with 8 stars
State ensign of Siam with 8 stars
1860
Half Tamlueng ครึ่งตำลึง
1/2 tamlueng, 2 baht
37 × 2.5
30
Silver
Phra Maha Mongkut seal with 16 stars
State ensign of Siam with 16 stars
1863
Pot Dueng พัดดึงส์
5/8 tamlueng, 2.5 baht
16 × 0.8
1.83
Gold
Phra Maha Mongkut seal
State ensign of Siam
1863
Pit พิศ
1 tamlueng, 4 baht
17 × 1
3.88
Gold
Phra Maha Mongkut seal
State ensign of Siam
1863
Tot ทศ
2 tamlueng, 8 baht
22 × 1
7.42
Gold
Phra Maha Mongkut seal
State ensign of Siam
1863
Issue 3 - 1875
The first series to depict king Rama V, the coins of this issue were made of copper, silver, and gold. Though gold was strangely only used for the 1 fueang denomination.[33] The new shield emblem was introduced in this issue. This shield was separated into three section. Drawing from western influences, symbols within these sections represented territories Siam was controlling. The tree-headed elephant represented Siamese territory, the bottom-left elephant represented Lan Xang, and the warangka represented Siamese Malaya.
Issue 3 coins (Rama V)
Image
Value
Dimensions (mm)
Weight (g)
Composition
Inscription, description
Date of issue
Obverse
Reverse
Name
Coinage value
Obverse
Reverse
Solot โสฬส
1/16 fueang, 1/128 baht
20 × 1
2.67
Copper
กรุงสยาม (Kingdom of Siam) Monogram of Rama V รัชกาลที่ ๕ (5th Reign)
This was a minor-issue, where the lesser denominations' designs were updated to incorporate the three-parted shield into the design.
Issue 4 coins (Rama V)
Image
Value
Dimensions (mm)
Weight (g)
Composition
Inscription, description
Date of issue
Obverse
Reverse
Name
Coinage value
Obverse
Reverse
Solot โสฬส
1/16 fueang, 1/128 baht
19 × 2
2.8
Copper
จุฬาลงกรณ์ ป.ร. (Chulalongkorn) พระจุลจอมเกล้าเจ้ากรุงสยาม (King of Siam)
หนึ่งโสฬศ (1 solot) ๑๑๘ (RS 118)
1888
At อัฐ
1/8 fueang, 1/64 baht
24 × 2
5.8
Copper
จุฬาลงกรณ์ ป.ร. (Chulalongkorn) พระจุลจอมเกล้าเจ้ากรุงสยาม (King of Siam)
หนึ่งอัฐ (1 at) ๑๒๒ (RS 122)
1888
Siao เสี้ยว
1/4 fueang, 1/32 baht
30 × 2
11.3
Copper
จุฬาลงกรณ์ ป.ร. (Chulalongkorn) พระจุลจอมเกล้าเจ้ากรุงสยาม (King of Siam)
หนึ่งเซียว (1 siao) ๑๒๒ (RS 122)
1888
Decimal coinage
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 one subunit, at. with the baht being in the middle. In summary, 64 at = 1 baht = 1/80 chang. In reality, this was just a simplification of the old system, which was scrapped.[34] In which, during the period of 1902–1908, Siam went back to the old system. Though in comparison, at is used as the subunit in Laos, 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, cupronickel2+1⁄2, 5, 10, and 20 satang. However, 1 solot, 1, and 2 at coins were struck until 1905 and 1 fueang 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 salueng 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.
Issue 5 - 1897 (transitional)
Issue 5 coins (Rama V)
Image
Value
Dimensions (mm)
Weight (g)
Composition
Inscription, description
Date of issue
Obverse
Reverse
Name
Coinage value
Obverse
Reverse
2.5 satang
0.025 baht
19 × 1
1.8
Cupronickel
สยามอานาจักร (Kingdom of Siam) ศก๑๑๖ (RS 116)
สองสตางค์ครึ่ง (two and a half satang) ๒ (2) ๑/๒ (1/2)
1897
5 satang
0.05 baht
19 × 1
2.9
Cupronickel
สยามอานาจักร (Kingdom of Siam) ศก๑๑๖ (RS 116)
ห้าสตางค์ (five satang) ๕ (5)
1897
10 satang
0.10 baht
19 × 1
4~
Cupronickel
สยามอานาจักร (Kingdom of Siam) ศก๑๑๖ (RS 116)
สิบสตางค์ (ten satang) ๑๐ (10)
1897
20 satang
0.20 baht
19 × 1.8
6.45
Cupronickel
สยามอานาจักร (Kingdom of Siam) ศก๑๑๖ (RS 116)
ยี่สิบสตางค์ (twenty satang) ๒๐ (20)
1897
Issue 6 - 1908, 1913, 1929, 1939
Issue 6 coins (Rama V, VI, VII, VIII)
Image
Value
Dimensions (mm)
Weight (g)
Composition
Inscription, description
Date of issue
Obverse
Reverse
Obverse
Reverse
1 satang
22.5 × 1
5
Bronze-copper-zinc
Chakra
สยามรัฐ ๑ สตางค์ (Siamese State 1 satang)
1908
รัฐบารไทย ๑ สตางค์ (Thai Government 1 satang)
1939
5 satang
17.5 × 1
2
Nickel
Chakra
สยามรัฐ ๕ สตางค์ (Siamese State 5 satang)
1908
10 satang
20 × 1
3.5
Nickel
Chakra
สยามรัฐ ๑๐ สตางค์ (Siamese State 10 satang)
1908
1 baht
31 × 3
16
Silver
จุฬาลงกรณ์ สยามินทร์ (Chulalongkorn, Lord of Siam)
สยามรัฐ ร.ศ.๑๒๗ (Siamese State RS 127) หนึ่ง บาท (1 baht)
1908
25 satang
20 × 1.3
3.75
Silver
วชิราวุธ สยามินทร์ (Vajiravudh, Lord of Siam)
สยามรัฐ ๒๔๖๘ (Siamese State BE 2468) หนึ่ง สลึง (1 salueng)
1913
50 satang
25.3 × 1.3
7.5
Silver
วชิราวุธ สยามินทร์ (Vajiravudh, Lord of Siam)
สยามรัฐ ๒๔๕๘ (Siamese State BE 2458) สอง สลึง (2 salueng)
1913
1 baht
30.5 × 1
15
Silver
วชิราวุธ สยามินทร์ (Vajiravudh, Lord of Siam)
สยามรัฐ ๒๔๖๐ (Siamese State BE 2460) หนึ่ง บาท (1 baht)
1913
25 satang
20 × 1.3
3.75
Silver
ประชาธิปก สยามินทร์ (Prajadipok, Lord of Siam)
สยามรัฐ ๒๔๗๒ (Siamese State BE 2472) หนึ่ง สลึง (1 salueng)
1929
50 satang
25.3 × 1.3
7.5
Silver
ประชาธิปก สยามินทร์ (Prajadipok, Lord of Siam)
สยามรัฐ ๒๔๗๒ (Siamese State BE 2472) สอง สลึง (2 salueng)
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 3 February 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, Vajiralongkorn.
The 1, 5 and 10 satang are used only internally between banks and are not in circulation.[35]
Older coins, some of which are still in circulation, had only Thai numerals, but newer designs also have Arabic numerals.
The standard-issue 10-baht coin has, at the 12 o'clock position on the reverse, raised dots corresponding to Braille cell dot 1 and dots 2-4-5, which correspond to the number 10.
Many commemorative 1-, 2-, 5- and 10-baht coins have been made for special events. There also are 20-, 50-, 100-baht base metal commemorative coins and higher-denomination precious metal coins as well.[which?]
In February 2010 the Treasury Department of Thailand stated that it has been planning a new circulation 20-baht coin.[37]
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 at 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 10 September 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,[38] 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;[39] English speakers continued to refer to these as "ticals".[40]
On 27 July 2010, the Bank of Thailand announced that the 16th-series banknotes would enter circulation in December 2010.[41][42] On 9 August 2012, the Bank of Thailand issued a new denomination banknote, 80 baht, to commemorate queen Sirikit's 80th birthday.[43] 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 the 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.[44]
In 2018, the Bank of Thailand announced a new family of banknotes featuring a portrait of the current King Vajiralongkorn (Rama X). 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.[45]
Timeline
Predecimal banknotes
The characteristic of the banknotes of this era was that there were no series issued at the same time, rather they were issued sporadically and had multiple banks producing their own banknotes.
1851–1868, Rama IV era banknotes
Image
Value
Written text
Value in baht
Issuing body
Date of issue
1 fueang
เฟื้องหนึ่ง 方壹 Octava pars ticalis One eights of Tical
1/8
Royal Printing Works, Royal Palace of Siam
1853
1 salueng
สลึงหนึ่ง 銭壹 Quartia pars ticalis One quarter of Tical
1/4
Royal Printing Works, Royal Palace of Siam
1853
1 salueng 1 fueang
สลึงเฟื้อง 方銭壹 Tres octava partes ticalis Three eights of Tical
3/8
Royal Printing Works, Royal Palace of Siam
1853
2 salueng
สองสลึง 銭貳 Media pars ticalis One half of Tical
1/2
Royal Printing Works, Royal Palace of Siam
1853
2 salueng 1 fueang
สองสลึงเฟื้อง 方銭貳 Quinque octava partes ticalis Five eights of Tical
5/8
Royal Printing Works, Royal Palace of Siam
1853
3 salueng
สามสลึง 銭參 Tres partes ticalis Three quarter of Tical
3/4
Royal Printing Works, Royal Palace of Siam
1853
3 salueng 1 fueang
สามสลึงเฟื้อง 方銭參 Septem octava partes ticalis Seven eights of Tical
7/8
Royal Printing Works, Royal Palace of Siam
1853
1 baht
บาทหนึ่ง 圓壹 Unus ticalis One Tical
1
Royal Printing Works, Royal Palace of Siam
1853
2 tamlueng
พระราชทานเงินตรา สองตำงลึง
8
Royal Printing Works, Royal Palace of Siam
1856
3 tamlueng
พระราชทานเงินตรา สามตำงลึง
12
Royal Printing Works, Royal Palace of Siam
1853; 1856
4 tamlueng
พระราชทานเงินตรา สี่ตำงลึง
16
Royal Printing Works, Royal Palace of Siam
1853; 1856
5 tamlueng
พระราชทานเงินตรา ห้าตำงลึง
20
Royal Printing Works, Royal Palace of Siam
1853; 1856
6 tamlueng
พระราชทานเงินตรา หกตำงลึง
24
Royal Printing Works, Royal Palace of Siam
1856
7 tamlueng
พระราชทานเงินตรา เจ็ดตำงลึง
28
Royal Printing Works, Royal Palace of Siam
1856
8 tamlueng
พระราชทานเงินตรา แปดตำงลึง
32
Royal Printing Works, Royal Palace of Siam
1856
10 tamlueng
พระราชทานเงินตรา สิบตำงลึง
40
Royal Printing Works, Royal Palace of Siam
1853; 1856
12 tamlueng
พระราชทานเงินตรา สิบสองตำงลึง
48
Royal Printing Works, Royal Palace of Siam
1856
15 tamlueng
พระราชทานเงินตรา สิบห้าตำงลึง
60
Royal Printing Works, Royal Palace of Siam
1856
1 chang
พระราชทานเงินตรา ชั่งหนึ่ง
80
Royal Printing Works, Royal Palace of Siam
1853; 1856
1 chang 5 tamlueng
พระราชทานเงินตรา ชั่งห้าตำงลึง
100
Royal Printing Works, Royal Palace of Siam
1856
1 chang 10 tamlueng
พระราชทานเงินตรา ชั่งสิบตำงลึง
140
Royal Printing Works, Royal Palace of Siam
1856
1868–1902, Rama V era banknotes
Royal Treasury banknotes
Image
Value
Date of issue
1 at
1874
1 tical
1892
5 tical
10 tical
40 tical
80 tical
100 tical
400 tical
800 tical
Hong Kong and Shanghai Banking Corporation (HSBC) banknotes
Image
Value
Date of issue
1 tical
1889
5 tical
10 tical
40 tical
80 tical
100 tical
400 tical
Chartered Bank of India, Australia, and China banknotes
Image
Value
Date of issue
5 tical
1984
10 tical
40 tical
80 tical
100 tical
400 tical
Banque de L'Indo-Chine banknotes
Image
Value
Date of issue
5 tical
1986
20 tical
80 tical
100 tical
Decimal banknotes
1902–1925 (Series 1), Rama V and Rama VI era
Series 1
Series 1
Series 1 was chosen due to the series which precedes this were non-decimal. Series 1 banknotes was 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 were one-sided and multilingual, containing Chinese, Malay (in Jawi script), and Latin scripts.[46] 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.
Series 3 type 1 banknotes were produced by Thomas De La Rue & Company Limited. This series was actually delayed due to the Siamese revolution to abolish the absolute monarchy and transform it into a constitutional monarchy. The issuance was supposed to happen in the early 1930s.
King Prajadhipok and a scene of a riverside community
Phra Samut Chedi Temple
1934–1935
1935–1948 (Series 3 Type 2 to Series 8), Rama VIII era
Series 3 Type 2
Series 4 Type 1
Series 4 Type 2
Series 5
Series 6
Series 7
Series 8
Series 3 Type 2
Series 3 type 2 banknotes were produced by Thomas De La Rue & Company Limited. It was the first series to hold King Rama VIII's portrait, which replaced King Rama VII's portrait in the type 1.
Series 4 type 2 banknotes were produced by Royal Thai Survey Department and the Naval Hydrographic Department. During World War II, Thailand was 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 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.
At the end of World War II, 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.
1948–2003 (Series 9 to Series 13), early Rama IX era
These banknotes series are not yet demonetized, hence are still legal tender. Though they are never seen in circulation anymore.
Series 9, second portrait
Series 10
Series 11
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.[47]
So as to serve as an educational material, only one side is shown and any series beyond series 13 is omitted.
Series 9
Series 9 banknote portrait difference, young portrait (left) and new portrait (right)
Series 9 banknotes were 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.[48]
Series 10 banknotes were produced by Thomas De La Rue & Company Limited. Due to heavy counterfeiting, series 10 was issued in series 9's stead.[49] The 100-baht note 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.[50] As a consequence, the 1-baht note's production was cancelled.
Series 12 and 13 aimed to glorify past Thai monarchs, the Bank of Thailand dubbed this as "The Great Series." The 5-baht note's production was cancelled. The 50-baht and 500-baht notes are part of series 13 and was issued to commemorate the bicentennial celebration of Bangkok in 1982, though their production had to be delayed for the new printing press to be installed.[51]
2003–present (Series 14 to Series 17), late Rama IX and Rama X era
Images of banknotes have been removed lest they infringe copyright,[52] but may be viewed at the Thai-language article linked in the margin.
Series 14
The series 14 aims to focus on the activities and contributions of the Chakri kings. Officially, only three notes were issued, but the 50-baht notes were also produced alongside this series. The polymer 50-baht is considered to be a part of series 15, even though the production date began in 1994.[53][54]
The series 15 aims to update and expand the previous series 14's design. The 1000-baht note was resized down. There are two variants of this series, with the second and later variant having updated securities features.[56]
Similar to the series 15, the series 16 banknotes update the design to include a more later portrait of King Rama IX. There are two variants of this series, the later one being a circulated commemorative series circulating for a year after King Rama IX's passing. The series 16-2 notes depict the life and achievements of King Rama IX on the reverse.
King Naresuan the Great pouring water for declaration of independence monument; Statue of king Naresuan the Great on war elephant; Phra Chedi Chai Mongkol temple
King Phutthayotfa Chulalok the Great (Rama I) monument; Wat Phra Chetuphon Vimolmangklararm Rajwaramahaviharn (Wat Pho); Phra Sumen Fort (Bangkok city wall)
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.[68] 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 coins mintage date were only in 1863 & 1876, but they were demonitized by the decimalization.
Predecimal coinage
1/4 baht (1 fueang)
1/2 baht
1 baht
2 baht
4 baht (1 tamlueng)
2 tamlueng
Silver
1860–1962
Predecimal coinage
1/2 fueang
1/4 baht (1 fueang)
1/2 baht
1 baht
2 baht
Decimal coinage
5 satang
10 satang
20 satang
25 satang
50 satang
1 baht
Tin
1860–1950
Predecimal coinage
1/16 fueang
1/8 fueang
Decimal coinage
1 satang
5 satang
10 satang
25 satang
50 satang
Copper
1865–1905
Predecimal coinage
1/16 fueang
1/8 fueang
1/4 fueang
1/2 fueang
Brass
1865–1977
Predecimal coinage
1/4 fueang
1/2 fueang
Decimal coinage
25 satang
Bronze
1887–1957
Predecimal coinage
1/16 fueang
1/8 fueang
1/4 fueang
Decimal coinage
1/2 satang
1 satang
5 satang
10 satang
Nickel
1908–1937
Decimal coinage
5 satang
10 satang
Aluminium bronze
1950–present
Decimal coinage
5 satang
10 satang
25 satang
50 satang
Cupronickel
1897–present
Transitional coinage
2 1/2 satang
5 satang
10 satang
20 satang
Decimal coinage
1 baht
5 baht
10 baht (outer ring)
Nickelplated steel
2005–present
Decimal coinage
1 baht
2 baht
*inner part
Copper-aluminium-nickel
2008–present
Decimal coinage
5 baht
10 baht (inner plug)
*no wiki-image exist a Al-Br coin version is used
Copperplated steel
2008–present
Decimal coinage
25 satang
50 satang
This table only includes milled coins. Photduang, knife-cash, etc, are not included.
Exchange rates
Historical exchange rate of USD/THB from 1980 to 2015Historical exchange rate of EUR/THB since 2005
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.[70]
^เหรียญกษาปณ์ของไทย [Coins of Thailand]. Ministry of Defense of Thailand (in Thai). Archived from the original on 2012-02-04. Retrieved 15 October 2011.
^เงินตรา [Money] (in Thai). Royal Thai Mint. Archived from the original on 4 March 2016. Retrieved 22 November 2020.
^รัชกาลที่ 4 รับสั่งทำ "เหรียญกระษาปณ์" รับมือการค้ากับต่างชาติ [King Mongkut ordered the production of western style coins as the response to the rising trades with foreigners]. Silpa Watthanatham Magazine (in Thai). 27 March 2019. Archived from the original on 21 November 2020. Retrieved 22 November 2020.
^de Campos, J. J. (1941). "The Origin of the Tical"(PDF). Journal of the Siam Society. 33.2c. Siam Heritage Trust. Archived(PDF) from the original on 2022-10-09. Retrieved June 23, 2013. 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.
^"Banknotes, Series 1". Bank of Thailand. 23 February 2012. Archived from the original on 4 April 2016. Retrieved 9 May 2012. each denomination had many types which were printed by Thomas De La Rue & Company Limited, England.
^"Chapter 3/2"(PDF). The Unicode Standard, version 1.0. October 1991. p. 80.
^"Símbolos o signos no alfabetizables". Diccionario panhispánico de dudas (in Spanish) (2.ª (versión provisional) ed.). Real Academia Española y Asociación de Academias de la Lengua Española. Retrieved 16 July 2024.
^The Treasury Department (January 3, 2020). "ราคาประเมินมูลค่าเงินตราโบราณ". www.treasury.go.th. Archived from the original on June 8, 2023. Retrieved September 4, 2023.
^"Banknotes, Series 1". Bank of Thailand. Feb 26, 2012. Archived from the original on April 4, 2016. Retrieved November 22, 2012. The design was printed only on one side; so the note was called 'Uniface banknote'. There were 7 denominations....
^Duncan Stearn (27 June – 3 July 2003). "Rise of state-sponsored militarism and socialism". Pattaya Mail. XI (26). Pattaya: Pattaya Mail Publishing Co. Archived from the original on 1 November 2011. Retrieved 18 Feb 2012. 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.
^Wararat, service manager. "Reproduction of Thai banknotes". Bank of Thailand. Archived from the original on 2011-12-06. Retrieved 27 Nov 2011. 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.
Cecil Carter eds. [clarification needed], The Kingdom of Siam 1904, reprint by the Siam Society 1988, ISBN974-8298-13-2, chapter X Currency and Banking
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