Discovering Thai Baht Denominations and How to Exchange Currency

When traveling to Thailand, you can use Thai Baht, USD, and Euro for payments or shopping in malls (USD is more common than Euro). However, it's advisable to convert your money to Baht for convenience, especially at markets or roadside eateries.

The History and Value of Thai Currency

Thai Baht is the official currency used in Thailand (symbol THB - pronounced as Baht). This currency has been in circulation since 1929, replacing the tical which was previously used as the currency of Thailand. Both Baht and tical were units of weight for gold and silver to determine the value of Thai currency.

To date, the Baht is officially recognized on the world currency map, although its value is not high. Based on common international currency exchange rates, 1 USD = 34.08 Baht and 1 Thai Baht = 692 Vietnamese Dong (updated as of March 2023).

Thai Baht Currency

Thai Baht Denominations and Exchange Rates

The currency in Thailand consists of two types: banknotes and coins. Thai banknotes are widely used in all daily buying and selling activities here, while Thai coins are used for purchasing items from vending machines or train tickets.

Note that train tickets in Thailand are currently sold through vending machines. Therefore, you may spend quite a bit of time queuing at counters and exchanging bills if you don't have coins.

Thai Currency Denominations

Thai currency denominations include: 1000 THB, 500 THB, 50 THB, 20 THB, 10 THB as banknotes, and coins with denominations of: 10 THB, 5 THB, 2 THB, 1 THB.

The exchange rate of Thai Baht will vary depending on the fluctuations of the US Dollar (USD). At different times, the exchange rates will differ. Calculated in January 2021, the exchange rate of Baht was:

• 1 Baht is equivalent to 692 VND.
• 1 USD is equivalent to 34.08 Baht.
• 1 VND is equivalent to 0.0014 Baht.

Specifically, the exchange rates of Thai Baht to VND, USD, and vice versa are as follows:

Conversion Table for Thai Baht to VND, USD

Updated on March 20, 2023 (source: xe.com)

VND to Baht, USD Conversion Table

Updated on March 20, 2023 (source: xe.com)

>> You can check the exchange rates on the international market here: https://www.xe.com/currencyconverter/

>> And Vietcombank's exchange rates here: https://portal.vietcombank.com.vn/Personal/TG/Pages/ty-gia.aspx

How to exchange Thai currency?

When exchanging Thai currency, it's advisable to plan ahead. Depending on your budget and spending needs for the trip, choose the most suitable currency exchange method. You can opt for one of the following two ways to exchange Thai currency:

• Exchange only a portion of Thai currency before traveling: With this method, you'll effectively manage your 'cash pouch'. It's best to exchange some Baht and some USD, as in Thailand, USD is accepted in shopping centers or entertainment areas.
• If you have a generous budget, you can exchange all the money you plan to bring into Thai currency for easy shopping, entertainment, and dining without worrying about running out of money.

You need to plan ahead for the appropriate Thai currency exchange method

Where to exchange Thai currency in Vietnam?

In Vietnam, to exchange Thai currency denominations, you can visit banks, gold shops, or foreign currency exchange stores. Note that to exchange money, you need to prove the purpose of your trip and bring personal documents such as ID card, Citizen ID card, or passport when exchanging money.

For those who lack experience in traveling to Thailand, they may be wondering where to exchange money to ensure a good exchange rate.

Below, Mytour will suggest some locations to exchange Thai currency in Vietnam for your reference:

• Hanoi area: You can exchange Thai baht at gold shops, Ha Trung street (Hang Bong ward), or at banks. Note that the exchange rate at gold shops is usually lower. If exchanging money at the bank, you need to explain the purpose of your trip to Thailand.

Some reputable foreign currency exchange addresses in Hanoi are: My Nghe Gold and Silver Craft Shop at 31 Ha Trung Street; Japanese Quang Gold Shop at 57 Ha Trung Street; Chinh Quang Gold and Silver Company at 51 Ha Trung Street;...

The gold and silver shops on Ha Trung street are reputable foreign currency exchange addresses

• In Ho Chi Minh City: Banks or some gold shops in District 1 are reputable places where you can exchange Thai currency. Some addresses you can refer to are: Kim Mai Gold Shop at 84C, Cong Quynh; Saigon Jewelry Joint Stock Company at 40 - 42 Phan Boi Chau;....

Additionally, major banks such as Vietcombank, BIDV, Techcombank, Agribank,... nationwide and at airports also exchange Thai currency denominations. However, the exchange rate at airports will not be as high as at banks and private shops, so please consider before exchanging money.

Where to exchange Thai currency when in Thailand?

A piece of advice for you is not to exchange money at the airport in Thailand as the exchange rate will be very low. The tourist streets in the capital city Bangkok have many foreign currency exchange counters, so you should go there to exchange Thai currency.

Mytour suggests some reputable and competitive exchange places in Thailand for your reference:

Some reputable Baht exchange places in Thailand

Considerations when exchanging Thai currency

You should keep in mind some tips after exchanging Thai currency:

• After exchanging money, always double-check if you have received the correct amount.
• If exchanging USD in Thailand, opt for higher denomination bills for better exchange rates.
• Note that when entering Thailand, you are allowed to carry a maximum of 20,000 Baht (approximately 670 USD). Therefore, consider your personal spending needs before exchanging money.
• Exchange only a sufficient amount of coins needed for transportation fares, as coins are easily lost.
• You can use domestic debit cards to withdraw Baht from ATMs in Thailand.
• If you have excess Thai Baht after your trip, you can exchange it for Vietnamese currency at the aforementioned Thai currency exchange locations.
• Furthermore, avoid exchanging money at black markets or unlicensed currency exchange shops, as it violates foreign currency exchange laws and may incur heavy penalties.

Here are all the experiences and guidelines on how to exchange Thai currency in various denominations as well as specific currency exchange locations. Hopefully, this article will make it easier for you to exchange Thai currency and facilitate convenient transactions when traveling to the Land of Smiles. Don't forget to book your Thailand tour with Mytour for the most complete travel experience!

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