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Foreign Exchange Guide to Thailand

Read this currency guide to Thailand with THB money transfer and travel tips.

Thailand
Country Code:
TH
Domestic Currency:
Thai Baht
Symbol - Code:
฿ THB
Telephone Prefix:
+66

This is a foreign exchange guide to Thailand, the Thai Baht currency plus THB transfers and travel tips.


In this guide we review :

  1. Thai Baht info - general info about the Thai Baht
  2. Thai Baht in the markets - recent THB moves and predictions from the FX markets
  3. Travelling in Thailand - currency & money saving tips
  4. Buying Thai Baht cash online - travel money for Thailand
  5. Sending money to Thailand - save on Thai Baht bank transfers to Thailand
  6. Thai Baht exchange rates - latest & historic exchange rates.

Thai Baht (THB) general currency information


What is the Thai Baht currency code and symbol?

The three letter currency code for the Thai Baht is THB and the symbol is ฿.


Which countries use the Thai Baht?

It is the domestic currency in Thailand.

The Thai baht is subdivided into 100 satang.

The baht is termed an ‘exotic’ currency, which means that there is far less participation in the market for baht than in the market for more established currencies, such as euros or U.S. dollars. For this reason, the price paid to change your money into or from baht (the price being equivalent to the market bid-ask spread) is far higher relative to the amount of money being changed than it would otherwise be.

Thailand’s central bank manage the baht’s value under a ‘managed float’ regime, which means that the bank will intervene at times in the foreign exchange market to reduce what it sees as excessive volatility in the currency and to maintain national competitiveness, i.e. the bank will at times weaken the currency to boost demand for Thailand’s exports.

As an exotic currency, the baht is considered riskier than currencies from major developed nations, which means that its value will fall against the FX majors (especially JPY, USD, CHF, GBP and EUR) during periods of economic uncertainty or when global geopolitical risk is elevated, or during bouts of high market volatility.

Historically, the baht’s lowest valuation against the US dollar came in January 1998 when USD/THB reached 55.50. It's all-time high occurred in July 1981 when USD/THB fell to just 20.36. Since 2005, USD/THB has traded between 28.56 and 42.19.


Thai Baht (THB) in the markets

The baht lost nearly 7 percent of its value against the dollar between April and August 10th (the date of this report) as USD/THB rose to 33.32, from 31.1.

Weakness in the baht was partly a contagion effect derived from chaos this year in other emerging market currencies, specifically the Turkish lira and Argentine peso, but was also the result of massive amounts of US protectionism, which threaten global trade.

Unlike other emerging market central banks, many of which were under great pressure to tighten monetary policy in the middle of the year (necessary to curb inflation and/or currency depreciation), the Bank of Thailand is expected to leave its benchmark interest rate unchanged at 1.5 percent throughout the rest of 2018. A senior official at the BoT said in July that the first rate hike in Thailand since 2011 might become a reality if second-quarter GDP growth (due on August 20th) matches or exceeds 4.5 percent. There is little pressure on the BoT as Thai inflation remains extremely low, at just 1.46 percent.

In August, Scotiabank was optimistic on the baht. The Canadian bank advised selling USD/THB on rallies as it believed in an eventual agreement between the US and China on trade, and said that trade-related baht weakness would be reversed.

The interactive chart below shows the USD to THB exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.


USD-THB 3 Month chart
USD-THB 3 Month chart
USDTHB currency converter

Travel, Currency and Money saving tips for Thailand

 

In between the busy cities and scattered towns of Thailand is the rural heartland, which is a mix of rice paddies, tropical forests and villages living the farming lifestyle. In the north, the forests surround tall blue mountains scattered with shining waterfalls. In the south, scraggy limestone cliffs rise up from the cultivated landscape like ancient towers.

Travel tips for Thailand.

The official currency of Thailand is the Thai BAHT (pronounced - baaht). ATMs are everywhere and usually reliable, most Thai banks now charge a 200 baht fee per withdrawal when you use their ATMs with a foreign card.

Thailand is a very popular and safe place to travel to, but still always use common sense. Depending on the type of hotel, try not to leave credit cards, passports, and other valuables lying around your room when you are not there. Instead use the room safe, or the hotel main safe. If you want to store your cards there while out shopping (shopping is considered a national pastime) you could get a Travel Card before flying in to ease your mind.

Another good reason to get a Prepaid Travel Card is that credit card fraud exists in Thailand, as in any other country.  If you must pay by credit card, don't let your card out of your sight. Watch as its used, and double check the purchase amount and currency, before signing or entering your pin number.

Typical Thai beach scene

Be prepared to pay more than locals for many tourist attractions have two rates, where there can often be a rate for locals and a larger rate for tourists. Many tourists head to Thailand for its lovely beaches, just know that Thai beaches do not have lifeguards so try to stay in sight on other people, check all the signs, and avoid swimming on deserted beaches. Drink bottled water, its cold and cheap and since it can be hot all the time in Thailand have some on you at all times to avoid dehydration.

How do I travel in Thailand?

Taxis are available everywhere, just when getting in make sure the meter is set to THB 35 to avoid being made to pay extra.Getting around in Tuc-Tuc's is part of the experience but can get annoying as the driver may often try to take you to shops on the way. Just negotiate a fare before jumping in, don't pay until you arrive, and be prepared to jump out and take another one if they go to a shop and refuse to leave until you check it out or buy something.

Trains and buses to get around the country in Thailand can be an experience, but due to the travel times and budget, many recommend flying everywhere. Flights within Thailand are relatively cheap, and it may not be worth spending valuable vacation days traveling by bus or train. By way of example, the train from Chiang Mai to Bangkok is about 12 hours, and the train down to Phuket (close to Phuket, but then you have to take another bus) is another 8 hours, so it will take about 20 to 24 hours of travel time from Chiang Mai to Phuket. Or you can take a 2 hour direct flight on Thai Air Asia for less than $60.

 

Travel money for Thailand

 

Save money and time by Ordering your Thai Baht online from Travelex, you get better rates and can pick up the THB cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in Thai Baht otherwise you may get much worst exchange rates.

 

Travel Money Exchange Rates Compared

Buying THB Cash with USD 1,000

ProviderRatingFeesExchange RateMargin
Travelex US logo Travelex US
 
$028.9607฿28,961 THB11.62%
HSBC logo HSBC
$028.67฿28,670 THB12.51%
Average Bank Rate
U.S. Bank logo  Wells Fargo Bank logo  HSBC logo 
$1028.4767฿28,285.67 THB13.69%
Wells Fargo Bank logo Wells Fargo Bank
Minimum 20 USD28.67฿28,097 THB14.26%
U.S. Bank logo U.S. Bank
$028.09฿28,090 THB14.28%
 
Travelex US logo Travelex US
Free Home Delivery when you Buy Online Travel Money & Cards with $0 commission and great exchange rates only available from Travelex Online. Zero cost for Home Delivery or pickup your foreign cash at your local Travelex store or at the airport on departure day. * Home deliveries can only be made to the registered billing address of your chosen payment method.
Price Details
Receive: ฿28,961 THB
Exchange Rate: 28.9607
Fees: $0
Total Cost : 11.62% (from mid-rate: 32.7705)
Amount of cash that could be received at rate USD/THB=28.9607 and inclusive of the fee of $0.
Rate timestamp : Tue Aug 21 2018 04:15:03 GMT+0000 (UTC)
 
HSBC logo HSBC

Price Details
Receive: ฿28,670 THB
Exchange Rate: 28.67
Fees: $0
Total Cost : 12.51% (from mid-rate: 32.7705)
Receive THB ฿291 less than with  Travelex US logo Travelex US
Amount of cash that could be received at rate USD/THB=28.67 and inclusive of the fee of $0.
 
Average Bank Rate
U.S. Bank logo  Wells Fargo Bank logo  HSBC logo 
This is the average USD to THB Buy Foreign Cash exchange rate from multiple banks, exchange kiosks and post-offices, available over the counter and via the internet.


Price Details
Receive: ฿28,285.67 THB
Exchange Rate: 28.67
Fees: $10
Total Cost : 13.69% (from mid-rate: 32.7705)
Receive THB ฿675.33 less than with  Travelex US logo Travelex US
Amount of cash that could be received at rate USD/THB=28.4767 and inclusive of the fee of $10.
 
Wells Fargo Bank logo Wells Fargo Bank

Price Details
Receive: ฿28,097 THB
Exchange Rate: 28.67
Fees: Minimum 20 USD
Total Cost : 14.26% (from mid-rate: 32.7705)
Receive THB ฿864 less than with  Travelex US logo Travelex US
Amount of cash that could be received at rate USD/THB=28.67 and inclusive of the fee of Minimum 20 USD.
 
U.S. Bank logo U.S. Bank

Price Details
Receive: ฿28,090 THB
Exchange Rate: 28.09
Fees: $0
Total Cost : 14.28% (from mid-rate: 32.7705)
Receive THB ฿871 less than with  Travelex US logo Travelex US
Amount of cash that could be received at rate USD/THB=28.09 and inclusive of the fee of $0.
 

Thailand Trip Checklist    

  1. Compare THB travel cash rates - probably why you are here!
  2. Search Hotel deals - Save on your accomodation in Thailand
  3. Lonely Planet - world's best travel guide (coupon and deals)

Sending money to Thailand

When searching around for information on how to get a good exchange rate when sending money to Thailand you need to start with finding out the latest Thai Baht foreign-transfer exchange rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).


Get a better deal for foreign transfers to Thailand

When sending money to Thailand it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Thai Baht amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted THB amount will be transfered to the recipient account you specify in Thailand.

Use our Send to THB calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Thai Baht deposited into the recipient bank account and less margins and fees kept by the banks!

 
Sending a LARGER international money transfer? Request a Free Multi-Vendor Quote

Compare Foreign Transfers

Sending USD 10,000 to THB

ProviderRatingFeesExchange RateMargin
OFX logo OFX
 
$032.47฿324,700 THB0.92%
Wells Fargo Bank logo Wells Fargo Bank
$1831.73฿316,729 THB3.35%
HSBC logo HSBC
$1531.7฿316,525 THB3.41%
Average Bank Rate
Bank of America logo  U.S. Bank logo  Wells Fargo Bank logo  HSBC logo 
$1531.6425฿314,585 THB4%
Bank of America logo Bank of America
$10031.57฿312,543 THB4.63%
U.S. Bank logo U.S. Bank
$10031.57฿312,543 THB4.63%
 
OFX logo OFX
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals. BestExchangeRates users get the transfer fees waived.
Price Details
Receive: ฿324,700 THB
Exchange Rate: 32.47
Fees: $0
Total Cost : 0.92% (from mid-rate: 32.7705)
This is the amount of money that could be received by your transfer at rate USD/THB=32.47 and inclusive of the fee of $0.
Rate timestamp : Tue Aug 21 2018 04:03:49 GMT+0000 (UTC)
 
Wells Fargo Bank logo Wells Fargo Bank

Price Details
Receive: ฿316,729 THB
Exchange Rate: 31.73
Fees: $18
Total Cost : 3.35% (from mid-rate: 32.7705)
Receive THB ฿7,971 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate USD/THB=31.73 and inclusive of the fee of $18.
 
HSBC logo HSBC
Rate available to HSBC Online Banking customers only.

Price Details
Receive: ฿316,525 THB
Exchange Rate: 31.7
Fees: $15
Total Cost : 3.41% (from mid-rate: 32.7705)
Receive THB ฿8,175 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate USD/THB=31.7 and inclusive of the fee of $15.
 
Average Bank Rate
Bank of America logo  U.S. Bank logo  Wells Fargo Bank logo  HSBC logo 
This is the average USD to THB International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.


Price Details
Receive: ฿314,585 THB
Exchange Rate: 31.5
Fees: $15
Total Cost : 4% (from mid-rate: 32.7705)
Receive THB ฿10,115 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate USD/THB=31.6425 and inclusive of the fee of $15.
 
Bank of America logo Bank of America

Price Details
Receive: ฿312,543 THB
Exchange Rate: 31.57
Fees: $100
Total Cost : 4.63% (from mid-rate: 32.7705)
Receive THB ฿12,157 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate USD/THB=31.57 and inclusive of the fee of $100.
 
U.S. Bank logo U.S. Bank

Price Details
Receive: ฿312,543 THB
Exchange Rate: 31.57
Fees: $100
Total Cost : 4.63% (from mid-rate: 32.7705)
Receive THB ฿12,157 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate USD/THB=31.57 and inclusive of the fee of $100.
% Margins to latest USD/THB mid-rate: 32.7705
Rates @ 08/21/2018
 

Major THB cross rates


THB/USD - Thai Baht to United States Dollar - 10 Year History

DateExchange RatePeriod
12 Aug 20180.03001 Week
20 Jul 20180.03001 Month
20 Feb 20180.03176 Months
19 Aug 20170.03011 Year
19 Aug 20160.02892 Years
20 Aug 20130.03175 Years
21 Aug 20080.029510 Years

THB/EUR - Thai Baht to Euro - 10 Year History

DateExchange RatePeriod
12 Aug 20180.02631 Week
20 Jul 20180.02561 Month
20 Feb 20180.02576 Months
19 Aug 20170.02561 Year
19 Aug 20160.02552 Years
20 Aug 20130.02365 Years
21 Aug 20080.019810 Years

THB/GBP - Thai Baht to British Pound Sterling - 10 Year History

DateExchange RatePeriod
12 Aug 20180.02351 Week
20 Jul 20180.02291 Month
20 Feb 20180.02276 Months
19 Aug 20170.02341 Year
19 Aug 20160.02212 Years
20 Aug 20130.02025 Years
21 Aug 20080.015710 Years

THB/JPY - Thai Baht to Japanese Yen - 10 Year History

DateExchange RatePeriod
12 Aug 20183.32051 Week
20 Jul 20183.34361 Month
20 Feb 20183.40816 Months
19 Aug 20173.28801 Year
19 Aug 20162.89342 Years
20 Aug 20133.08355 Years
21 Aug 20083.193710 Years

THB/AUD - Thai Baht to Australian Dollar - 10 Year History

DateExchange RatePeriod
12 Aug 20180.04121 Week
20 Jul 20180.04051 Month
20 Feb 20180.04036 Months
19 Aug 20170.03801 Year
19 Aug 20160.03792 Years
20 Aug 20130.03495 Years
21 Aug 20080.033610 Years

THB/CAD - Thai Baht to Canadian Dollar - 10 Year History

DateExchange RatePeriod
12 Aug 20180.03951 Week
20 Jul 20180.03951 Month
20 Feb 20180.04016 Months
19 Aug 20170.03791 Year
19 Aug 20160.03712 Years
20 Aug 20130.03295 Years
21 Aug 20080.030910 Years