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Foreign Exchange Guide to Thailand

Read this currency guide to Thailand with money transfer and travel tips.   [USD/THB=32.832]

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 Thailand currency guide we take a look at :

  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.
  7. THB News - the latest Thai Baht related articles from our blog.

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

Entering the third week of October, the baht is one of the best performing currencies of the year, being unchanged against the US dollar, at a level of ฿32.50, and having gained more than 4 percent and 9 percent against the euro (฿37.50) and Australian dollar (฿23.20) respectively.

The baht’s overall performance in 2018 shines relative to its peers, many of which have lost considerable value due to this year’s emerging market currency crises and massive amounts of US protectionism, which threatens global trade.

With Thailand soon likely to announce its first interest rate hike since 2011 (in September, two of the Bank of Thailand’s seven decision makers voted to hike), the outlook for the baht in the months ahead remains good and further strength should not be a surprise.

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.

 

Compare USD to THB Travel Money Exchange Rates vs the Banks

ProvidersAmount THBExchange RateFee USDTotal CostReviewsDeal Links
Wells Fargo Bank logoWells Fargo Bank
฿30,733 THB
Top Provider
31.36$206.37%
U.S. Bank logoU.S. Bank
฿30,730 THB
฿THB3 less
30.7306.38%
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
฿30,731.5 THB
฿THB1.5 less
31.05$106.38%
Travelex Online US logoTravelex Online US
฿28,777 THB
฿THB1,956 less
28.77650^12.33%
 
Wells Fargo Bank: Travel Money USD→THB
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:31.36 (4.46% from mid-rate)
THB amount:฿30,733 THB
Total Cost:6.37%
Time:6:08 Local
Rating:
: /5.0
Reviews:
U.S. Bank: Travel Money USD→THB
USD amount:$1,000 USD
Fee:0
Exchange Rate:30.73 (6.38% from mid-rate)
THB amount:฿30,730 THB
Total Cost:6.38%
Time:6:08 Local
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo

Travel Money USD→THB
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:28.72 (12.5% from mid-rate)
THB amount:฿30,731.5 THB
Total Cost:6.38%
Travelex Online US: Travel Money USD→THB
USD amount:$1,000 USD
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:28.7765 (12.33% from mid-rate)
THB amount:฿28,777 THB
Total Cost:12.33%
Time:
Rate Fetched: Mon Dec 10 2018 04:15:04 GMT+0000 (UTC)
Rating:
 
: 4.3/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers Get Quotes
Total Cost = provider fees + exchange rate margin vs USD/THB mid-rate: 32.8246
Rates @ 12/10/2018
 

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!

 

Compare USD to THB Foreign Transfers vs the Banks

ProvidersAmount THBExchange RateFee USDTotal CostTransfer SpeedTransfer ServicesReviewsDeal Links
OFX logoOFX
฿324,000 THB
Top Provider
32.40^1.29%1-2 daysOnline, Bank Account to Bank Account
 
WorldFirst logoWorldFirst
฿326,900 THB
฿THB2,900 more
32.6900.41%1-2 daysOnline, Bank Account to Bank Account
 
Wells Fargo Bank logoWells Fargo Bank
฿317,328 THB
฿THB6,672 less
31.79183.33%2-3 daysOnline, Branch, Bank Account to Bank Account
HSBC logoHSBC
฿317,024 THB
฿THB6,976 less
31.75$153.42%2-3 daysOnline, Branch, Bank Account to Bank Account
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
฿315,107 THB
฿THB8,893 less
31.7154%2-3 daysOnline, Branch, Bank Account to Bank Account
Bank of America logoBank of America
฿313,038 THB
฿THB10,962 less
31.62$1004.63%2-3 daysOnline, Branch, Bank Account to Bank Account
U.S. Bank logoU.S. Bank
฿313,038 THB
฿THB10,962 less
31.62$1004.63%2-3 daysOnline, Branch, Bank Account to Bank Account
 
OFX: Foreign Transfer USD→THB
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:32.4 (1.29% from mid-rate)
THB amount:฿324,000 THB
Total Cost:1.29%
Time:
Rate Fetched: Mon Dec 10 2018 04:01:41 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Online, Bank Account to Bank Account
Rating:
 
: 4.8/5.0
Reviews:
WorldFirst: Foreign Transfer USD→THB
USD amount:$10,000 USD
Fee:
Exchange Rate:32.69 (0.41% from mid-rate)
THB amount:฿326,900 THB
Total Cost:0.41%
Difference:
฿THB2,900 THB more than using OFX
Time:6:08 Local
Transfer Speed:1-2 days
Services:Online, Bank Account to Bank Account
Rating:
 
: 4.6/5.0
Reviews:
Wells Fargo Bank: Foreign Transfer USD→THB
USD amount:$10,000 USD
Fee:18
Exchange Rate:31.79 (3.15% from mid-rate)
THB amount:฿317,328 THB
Total Cost:3.33%
Difference:
฿THB6,672 THB less than using OFX
Time:6:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
Rating:
: /5.0
Reviews:
HSBC: Foreign Transfer USD→THB
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:31.75 (3.27% from mid-rate)
THB amount:฿317,024 THB
Total Cost:3.42%
Difference:
฿THB6,976 THB less than using OFX
Time:6:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo

Foreign Transfer USD→THB
USD amount:$10,000 USD
Fee:15
Exchange Rate:31.56 (3.85% from mid-rate)
THB amount:฿315,107 THB
Total Cost:4%
Difference:
฿THB8,893 THB less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
Bank of America: Foreign Transfer USD→THB
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:31.62 (3.67% from mid-rate)
THB amount:฿313,038 THB
Total Cost:4.63%
Difference:
฿THB10,962 THB less than using OFX
Time:6:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
Rating:
: /5.0
Reviews:
U.S. Bank: Foreign Transfer USD→THB
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:31.62 (3.67% from mid-rate)
THB amount:฿313,038 THB
Total Cost:4.63%
Difference:
฿THB10,962 THB less than using OFX
Time:6:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers Get Quotes
Total Cost = provider fees + exchange rate margin vs USD/THB mid-rate: 32.8246
Rates @ 12/10/2018
 

Popular THB cross rates


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

DateExchange RatePeriod
02 Dec 20180.03041 Week
09 Nov 20180.03031 Month
12 Jun 20180.03126 Months
09 Dec 20170.03071 Year
09 Dec 20160.02802 Years
10 Dec 20130.03125 Years
11 Dec 20080.028510 Years

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

DateExchange RatePeriod
02 Dec 20180.02681 Week
09 Nov 20180.02671 Month
12 Jun 20180.02656 Months
09 Dec 20170.02611 Year
09 Dec 20160.02662 Years
10 Dec 20130.02275 Years
11 Dec 20080.021410 Years

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

DateExchange RatePeriod
02 Dec 20180.02391 Week
09 Nov 20180.02331 Month
12 Jun 20180.02336 Months
09 Dec 20170.02291 Year
09 Dec 20160.02232 Years
10 Dec 20130.01905 Years
11 Dec 20080.019110 Years

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

DateExchange RatePeriod
02 Dec 20183.46021 Week
09 Nov 20183.44361 Month
12 Jun 20183.44176 Months
09 Dec 20173.48201 Year
09 Dec 20163.22542 Years
10 Dec 20133.20675 Years
11 Dec 20082.611610 Years

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

DateExchange RatePeriod
02 Dec 20180.04121 Week
09 Nov 20180.04181 Month
12 Jun 20180.04116 Months
09 Dec 20170.04091 Year
09 Dec 20160.03762 Years
10 Dec 20130.03415 Years
11 Dec 20080.042510 Years

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

DateExchange RatePeriod
02 Dec 20180.04031 Week
09 Nov 20180.04001 Month
12 Jun 20180.04066 Months
09 Dec 20170.03941 Year
09 Dec 20160.03702 Years
10 Dec 20130.03315 Years
11 Dec 20080.035110 Years

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