Currency and Exchange Services
Thai Currency
The Thai unit of currency is the Baht which is worth a little less than 4 US cents. One US dollar = approximately 40 baht. The baht is divided into loo satang. “Copper” coins are valued at 25 and 50 satang. “Silver” coins are in denominations of 1′ 2 and 5 baht. A 10 baht coin is composed of both “silver” and “copper”. Banknotes are valued at 10 baht (brown), 20 baht (green), 50 baht (blue), 100 baht (red), 500 baht (purple) and 1,000 baht (khaki).
Traveler’s Cheques/ Cheques/Credit Cards
US dollar traveler cheques can be conveniently cashed at all provincial banks and authorized money changers. Traveler cheques in other currencies are best changed in Bangkok where better rates prevail. Generally, hotel exchange rates are lower than those offered by banks and authorized money changers. Major international credit cards, such as American Express, Diners, Carte Blanche, Master Card and VISA are accepted by major banks, restaurants, hotels and shops. Thai and foreign banks provide standard services nation-wide, Monday through Friday, except public and bank holidays, between 8.30 AM and 3.30 PM. Major banks such as Bangkok Bank, Thai Danu Bank, Thai Farmers Bank and Siam Commercial Bank operate currency exchange centres in most tourist areas from 7.00 AM to 9.00 PM, seven days a week, including holidays. Many first-class hotels provide 24′-hour money exchange services, but only for major currencies such as American dollars, British pounds, German marks and Swiss francs. Traveller’s cheques are generally accepted only from bona fide hotel guests.
Exchange Control
Foreign tourists may freely bring in foreign banknotes or other types of foreign exchange. Upon leaving Thailand, a foreign tourist may freely take out foreign means of payments which he brought in with him, with the exception that foreign notes or coins are limited to a maximum equivalent of US$ 10,000 or the amount declared in writing to Customs upon arrival. Failure to do so may lead to arrest, confiscation of the excess amount involved and/or prosecution.
For travellers leaving Thailand, the maxi- mum amount permitted to take out without prior authorization is 50,000 Baht per person
Foreign visitors may bring in personal effects and other goods which are not prohibited by current customs regulation. Other than personal effects, departing visitors are also allowed to take out merchandise bought from duty free shops, precious stones, gold and platinum ornaments.
Foreign visitors are welcome to open a foreign currency account with any commercial bank in Thailand. As a special gesture to non-residents, no restrictions are imposed on the maintenance of and withdrawal from the account, as long as the funds originate from abroad.
For additional information concerning foreign exchange regulations, please contact any authorized banks.
