Thailand

Changing money

The exchange rate of the Baht towards other currencies floats and may change daily. Since November 1984, the Thai Baht has been pegged to a basket of currencies including the US Dollar, the Pound Sterling, the Deutsche Mark, the French Franc, the Japanese Yen, the Hong Kong Dollar and the Singapore Dollar. The US Dollar carries the largest weight in the basket, possibly even up to 80%.

The result of this is that the Thai Baht is fairly stable in its exchange rate towards the US Dollar (around 40 Baht per US Dollar) but changes its parity to other currencies almost to the extent as those other currencies change their values in comparison to the US Dollar. Therefore, a weak US Dollar usually means that for visitors from countries whose currencies have gained against the US Dollar, Thailand is good value. For visitors from countries with currencies pegged to the US Dollar (like Hong Kong) the fluctuations typically have no bearing.

Money can be exchanged at commercial banks, at currency exchange services of these banks and at authorized money changers. Rates vary slightly from bank to bank. The currency exchange services are often box offices in front of bank branches. On Sukhumvit Road, a number of currency exchange services are accommodated in transformed caravan trailers.

Many hotels double as authorized money changers though their rates are usually not as advantageous as those of banks or independent authorized money changers. A small number of independent authorized money changers offer better rates than banks.