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Thai BahtCurrency ExchangeThai Baht notes can be drawn from most of the very common and convenient Automated Teller Machines (ATM's) by cash advance on credit cards or by using debit or ATM cards issued by foreign banks if they carry the logo of one of the inter-bank systems such as Maestro, Cirrus, Plus or Visa Interlink.Banks in Chiang Mai also operate a large number of currency exchange counters in the airport, shopping centers, adjacent to many branch banks and free-standing in many areas of the city popular with tourists. In many cases the fees and exchange rates are more favorable when using the ATM's than what are available at the currency exchange counters.
A Brief History
Before the modern Baht, money of one type or another was in use in what is now Thailand for well more than 2000 years. A variety of seeds and man-made beads, some made into bracelets, were used for exchange before the introduction of coins. Even when metal coins had been introduced, cowrie shells and baked clay coins saw use into the 19th century. Coins first appeared about 2000 years ago from several sources in Asia and elsewhere reflecting the trade routes then in use. Even Roman coins made of copper and dated 270 BC have been found. Prior to being joined to the modern Thai state, the Lanna Kingdom centered in Chiang Mai circulated its own coinage for more than 500 years. In the 19th century during the reigns of King Rama IV and Rama V, the Baht was standardized and factory minted coins and printed paper notes were issued by the state. King Chulalongkorn (Rama V) reformed the currency to include only the Satang and Baht with 100 Satang equal to one Baht. This is the system in use today. Limited issue and special commemorative Baht certificates are occasionally produced but the most commonly used paper notes are the 20, 50, 100, 500 and 1,000 Baht. Also in daily use are the 25 and 50 Satang and the 1, 5 and 10 Baht coins.
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