Money Wise in Thailand – 7 Tips and Tricks
The ‘BAHT’ is the Thai currency in use currently. It is available in various denominations in notes as well as coin form. You can check the current value of Thai Baht against the USD here.
How Much THB to Carry
Tip 1. Carry THB sufficient for Visa on Arrival, Taxi and first day’s meals from home country. Rest can be a mixed denomination of USD that can be exchanged in Money Changers near Malls. Never Change money in airports. ( Super Rich in Bangkok offered me good exchange rates)
Where to Keep Money and Valuables
Tip 2. Carry money and valuables including Passports in a good quality waist pouch (Chaddi Bag as in Rio-2 animated movie) and not in the luggage.
Who Should Have The Money
Tip 3. Keep the money distributed with all members of your group to avoid losing it all in one go.
Identifying The Thai Currency Notes
Tip 4. Once you get THB notes and coins, observe them closely and get familiar with their shape and colour to avoid giving out the wrong denomination. Here is how the New 17 Series Thai Baht Look Like
These notes bear the image of HRH King Maha Vajiralongkorn who assumed the throne in since 01 Dec 2016. The older series bearing the image of the late HRH King Bhumibol Adulyadej are also in circulation. One such note is shown as under
(Image credits : Bank of Thailand)
Tip 5. Take stock of the money spent and balance held every night before going to bed. This will help you plan the day ahead and safeguard yourself from running out of money. It makes sense to keep the reserve and that meant for shopping in separate marked envelopes.
Tip 6. Coins with denominations of 1, 2, 5 and 10 Bahts are commonly in use. Smaller denominations of 25 Satang, 50 Satang (one quarter and half Baht respectively) are also used. Remember to use up all the coins before you leave Thailand as no money changer will accept coins.
After The Trip
Tip 7. As per rules un-used foreign currency should be changed into INR through a licensed money changer within one month of landing back in India. For more practical tips & tricks refer to my article on 10 Smart Currency Exchange Tricks for Thailand
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