Thailand is a country which is known for its tourist destinations and attractions. Formerly Siam, this is a country of King and Queen, a country that is being run by constitutional monarchy. The king acts as the president of the country or the head of the state. He acts as the Defender of all Faiths. The country, being the worlds 50th largest country in the world has a very beautiful and attractive land that has contributed in the economic growth.
Thai baht or the Thai Onshore Baht is the monetary unit in this country. The Bank of Thailand issues it. The Symbol used for the Thai baht is THB. Originally, it was called Tical, a unit of weight used to determine the weight of Gold and Silver and was later on introduced as Baht. Baht is divided into 100 satang or Thai coins.
The first satang was made with cupronickel, nickel or bronze, depending on the value. Thai Baht bills were also introduced to slowly replace manufactured coins. It was issued in five faces. First is 20 baht, a green colored paper bill that was issued in March of 2003. The blue bill is another bill which was issued in October 2004. Third is the 100 baht which was issued October 2005. 500 baht was issued in August 2001.Lastly 1000 baht was issued in November 2005. All have the same Obverse, the H.M. King BhumibolAdulyanej in the uniform of the Supreme Sommander of the Armed Forces.
As of today, the exchange rate of a Thai baht to USD is 0.03. Not bad for a country whose main source of income is the production of gems and jewelry! The export production has helped the country in their growing economy. Thailand, being the leader in gem productions, has trained its people in crafting, since this is one of their main sources of living. The country became known as one of the main producers of jewelry, comparable to Italy in terms of quality, design, and price.
Thai Baht is the official currency of the Kingdom of Thailand. The currency symbol for the Thai Baht is ?, while the currency code is THB. It is divided into 100 satang. The Baht is rated as one of the strongest currencies in Southeast Asia. The Bank of Thailand issues the currency.
The original Thai currency was called the Tical; this name was used in the English text on banknotes until the year 1925. The name Baht was used as the Thai name for the currency since the 19th century.
Both the Tical and Baht currencies were originally units of weight, and coins were issued in both silver and gold, denominated by their weight in Baht and its fractions and multiples. The Baht has been the national currency since 1897 and had been in use even before it was considered the national currency.
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