THB - Thai Baht

About the Thai Baht

Country:

Thailand

Code:

THB

Symbol:

฿

The Thai Baht is the currency of Thailand and can often be abbreviated to THB. It is subdivided into 100 satang. The Thai Baht can also be known as Bahts, and Onshore Baht. The Thai Baht, originated from a traditional unit of mass, with its value being expressed as that of silver of corresponding weight.

This was the case until 1897, when the decimal system was introduced by King Chulalongkorn. From 1956 until 1973, the Thai Baht was attached to the US dollar; however a strengthening US economy caused Thailand to re-fix its currency. In 1998 the Thai Baht reached its lowest rate as it was floated and halved in value. The issuance of the Thai Baht is the responsibility of the Bank of Thailand.

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