Entering
a country without prior knowledge of money matters is like going for a
battle without weapons. Necessary information regarding transaction of money
in Thailand is given below. It would come very handy for one when on tour of
the country.Currency
The currency of Thailand is 'Baht' which is divisible into 100 'Satang'. Current notes come in denominations of 1,000 (brown), 500 (purple), 100 (red), 50 (blue), 20 (green) and 10 (brown) baht. Coins come in five denominations : 25 satang, 50 satang, 1 baht, 5 baht and 10 baht.
Cards and Travellers' Cheques
Travellers' cheques can be encashed at banks, major shopping centers and with money changers.
Do remember that exchange rate at authorised money changers and banks is better than shopping centers and hotels. One would need passport to encash travellers' cheques in banks. Major credit cards are widely accepted though the shopkeepers might charge some extra as the cost of transaction.
Restrictions
» No limit on amount of foreign currency brought into the country.
» The foreign currency carried out of Thai land, should not be more than the amount stated in the customs declaration made on arrival.
» Travellers leaving Thailand are not allowed to take out more than 50,000 baht per person.
Refunds
International tourists in Thailand are entitled to refund of the 7% V.A.T. (Value Added Tax) on products purchased at registered retail outlets.
