Baht is the official currency of Thailand. It holds the ISO code "THB" and has the symbol ฿. The term "baht" originated from the traditional unit of weight of silver, hence representing a medium of exchange. It is subdivided into 100 satang (สตางค์), which are smaller denominations commonly used in everyday transactions.
The baht is managed and issued by the Bank of Thailand, the country's central bank. Its value fluctuates in response to economic factors such as inflation, interest rates, and foreign exchange rates. The exchange rate of the baht is relative to other world currencies and is determined by market forces. The baht is widely accepted for various types of transactions within Thailand, including purchases, services, and investments.
In addition to physical banknotes and coins, digital transactions involving the baht are increasingly common with the advent of technology and online banking. This makes electronic transfers, online shopping, and mobile payments possible with the baht currency.
The baht is recognized for its vibrant banknotes, featuring prominent Thai historical figures, architectural landmarks, and cultural symbols. Commonly used denominations include 20, 50, 100, 500, and 1,000 baht banknotes, while coins exist in denominations of 1, 2, 5, and 10 baht, as well as 25 and 50 satang coins.
Overall, the baht is an essential part of Thailand's economy and plays a crucial role in the country's domestic and international trade.
