Damon Mcknight
Thailand's official currency is the Thai baht (THB), which is divided into 100 satangs. The baht was historically pegged to silver, gold, the British pound sterling, the Japanese yen, and the US dollar. If you're travelling to Thailand, you'll need to exchange your Australian dollars (AUD) for Thai baht. It's recommended to do this in Australia, as the Australian Dollar can sometimes fetch less favourable rates overseas.
Thai Baht to Australian Dollar Characteristics
| Characteristics | Values |
|---|---|
| Official Currency in Thailand | Thai Baht (THB) |
| Official Currency in Australia | Australian Dollar (AUD) |
| Thai Baht to Australian Dollar Exchange Rate | 1 THB = 0.041 AUD |
| Australian Dollar to Thai Baht Exchange Rate | 1 AUD = 24.5 THB |
| Currency Used in Thailand | Thai Baht (THB) |
| Currency Used in Australia | Australian Dollar (AUD) |
| Thai Baht Historical Pegs | Silver, British Pound Sterling, Japanese Yen, Gold, US Dollar |
| Disclosure Requirement when Entering/Exiting Thailand | Declare amounts over USD $20,000 or equivalent |
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What You'll Learn
Currency exchange in Thailand
Thailand's official currency is the Thai baht (THB). The baht is divided into 100 satangs.
It is recommended that you exchange your Australian dollars (AUD) for Thai baht before you leave Australia, as the Australian dollar can sometimes fetch less favourable rates overseas.
You can exchange your currency with Crown Currency Exchange, Australia's largest foreign exchange provider, which has over 60 stores across the country.
If you are entering or leaving Thailand with more than USD $20,000 in foreign money or its equivalent, you must disclose the amount to customs. Failing to declare this amount is a criminal offence.
The Bank of Thailand's website provides daily foreign exchange rates and a currency calculator.
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$19.85 $60
The history of the Thai baht
The Thai baht (THB) is the official currency of Thailand. It is subdivided into 100 satang. The Thai baht, like the pound, originated from a traditional unit of mass. Its currency value was originally expressed as that of silver of corresponding weight (now defined as 15 grams), and was in use probably as early as the Sukhothai period in the form of bullet coins known in Thai as photduang. These were pieces of solid silver cast to various weights.
Up until the final decades of the nineteenth century, the baht was pegged to silver. Later, Thailand adopted a decimal system, and the baht became 100 satangs. Throughout its history, the Thai baht has been pegged to a number of different currencies and even gold. It was pegged to the British pound sterling in the early 20th century and was subjected to periodic adjustments. The exchange rate fluctuated between 11 baht and 22 baht for each British pound throughout a period of approximately 20 years.
The monetary system at the beginning of the Rattanakosin Era was similar to the Ayudhya monetary system consisting of pod duang but it was modified to exhibit the unique traits attributed to Thai people living in this era. During the reign of King Rama I until King Rama III, pod duang was continued in use but with the reign mark changed. King Rama IV ordered the production of gold and silver coins of four baht value bearing the Monkut-Krung Siam mark as mementos of his 60th birthday. The reign of King Rama V saw a significant development of the nation in almost every aspect, including the monetary and financial system. In 1875, the king ordered a new mint built, including the installation of a new machine with greater production capacity and efficiency. The new mint began producing silver coins with the royal portrait and the coat-of-arms design, the first time that the front side carried the profile of the ruling monarch.
In 1892, the treasury issued notes for 1, 5, 10, 40, 80, 100, 400, and 800 ticals, called "baht" in the Thai text. In 1897, the decimal system devised by Prince Jayanta Mongkol, in which one baht = 100 satang, was introduced by his half-brother King Chulalongkorn, along with the demonetization of silver bullet coins on 28 October 1904, after the end of silver bullet coin production by the opening of the Sitthikarn Royal Mint in 1857. However, coins denominated in the old units were issued until 1910, and the amount of 25 satang is still commonly referred to as a salueng, as is the 25-satang coin.
From 1956 until 1973, the baht was pegged to the US dollar at an exchange rate of 20.8 baht = one dollar and at 20 baht = 1 dollar until 1978. A strengthening US economy caused Thailand to re-peg its currency at 25 to the dollar from 1984 until 2 July 1997, when the country was affected by the 1997 Asian financial crisis. The baht was floated and halved in value, reaching its lowest rate of 56 to the dollar in January 1998. It rose to 30 per dollar in January 2021.
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Australian dollars and exchange rates
Thailand's official currency is the Thai baht (THB). The baht was historically pegged to silver, and later, Thailand adopted a decimal system, with the baht becoming 100 satangs. The currency was originally known as the tical, a name that was used on English-language banknotes until 1925. The baht has been linked to various currencies over the years, including British pound sterling, the Japanese yen, and the US dollar.
If you're travelling to Thailand from Australia, it's recommended that you exchange your Australian dollars (AUD) for Thai baht before you leave. The Australian dollar can sometimes be exchanged for a less favourable rate in Thailand, so converting your currency beforehand can help you secure a better deal. Crown Currency Exchange, Australia's largest foreign exchange provider, recommends this approach.
When travelling to Thailand, it's important to be aware of the country's currency regulations. Any traveller entering or leaving Thailand with more than USD $20,000 or its equivalent in foreign currency must declare the full amount to customs. Failure to do so is a criminal offence.
To give you an idea of the cost of goods and services in Thailand, spending around ฿4,900 THB can provide a comfortable level of accommodation and activities. This amount can cover some nice cocktails on the beach and a one-hour Thai massage to unwind after a long day of exploring.
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Customs and currency declarations
Thailand's official currency is the Thai baht (THB). The Thai baht is one of the world's oldest circulating currencies, dating back almost 800 years to the 13th century. The Thai central bank tied the baht to the dollar from the mid-1950s until 1997. The initial dollar peg was 20 baht per dollar.
If you’re travelling to Thailand, it’s usually best to exchange your Australian dollars (AUD) for Thai baht (THB) before you leave. The Australian dollar can sometimes fetch less favourable rates overseas, and converting to Thai baht before you depart helps you secure a better deal. By arranging your travel funds in advance, you’ll avoid the hassle of finding an exchange and any unexpected fees upon arrival.
Any traveller entering or departing Thailand with more than USD $20,000 in foreign money or its equivalent must disclose the whole amount to customs. It is a criminal offence to make a false declaration to a Customs Officer or to omit to declare upon transporting currency that exceeds the amount restricted by law or its equivalent out of or into Thailand. For Thai currency (Baht), any person can bring a total amount not exceeding THB500,000 to any Thailand-bounded countries and not exceed THB50,000 to any destination countries. More than that mentioned amount, you have to declare to a Customs Officer or exchange to other currencies before departing from Thailand.
If you are travelling into or out of Australia, you must declare cash and non-cash forms of money (such as traveller’s cheques, cheques and money orders) in Australian and foreign currency if the combined value is AUD10,000 or more. You can complete the online declaration form before you pass through customs when arriving or departing Australia. If you are unable to complete the online form, you can request a paper version from an Australian Border Force or police officer. They can help you complete the declaration form.
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Budgeting for travel in Thailand
Thailand is a very popular tourist destination, known for its stunning natural beauty, rich cultural traditions, and friendly people. The country offers a great mix of sights and accommodations, making it a destination that works for travellers of all budgets and preferences.
The official currency in Thailand is the Thai baht (THB). The Thai baht has historically been pegged to a number of different currencies, including silver, gold, the British pound sterling, the Japanese yen, and the US dollar.
Accommodation
Accommodation costs can vary in Thailand, ranging from budget options like hostels and guesthouses to more luxurious hotels. Hostels are plentiful and generally of good quality, with dorm beds starting from as low as $15.50 per night. Guesthouses are another affordable option, offering private rooms with basic amenities at similar price points to hostels. If you're looking for more comfort and luxury, brand-name hotels can be found at higher price points, but still more affordable than in Western countries.
Transportation
Transportation costs can be kept low by using public buses or trains instead of internal flights or tourist minivans. State-run bus companies like Baw Khaw Saw (BKS) offer cheaper fares than private buses. Ordinary and express buses are also more affordable than VIP buses or luxury options. Travelling during the low season, from July to September, can result in significant savings on accommodation and transportation, as prices tend to be lower outside of the peak travel period.
Food
Street food and local cuisine in Thailand are known to be delicious and affordable. Eating at less expensive restaurants and trying local dishes can help you stick to your budget without compromising on taste.
Activities
There are plenty of budget-friendly activities to enjoy in Thailand, such as snorkelling excursions, local culinary classes, Thai boxing, and scuba diving. Taking advantage of free activities, such as visiting beaches or exploring nature, can also help stretch your budget further.
According to Budget Your Trip, the average daily budget for one person in Thailand is around $97 (฿3,235) per day, including accommodation, food, local transportation, and sightseeing. A one-week trip for two people is estimated to cost $1,352 (฿45,290) on average.
Remember to exchange your Australian dollars (AUD) to Thai baht (THB) before leaving Australia, as you may get less favourable rates overseas. Additionally, declare any amounts over USD $20,000 or its equivalent when entering or exiting Thailand to comply with customs regulations.
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Frequently asked questions
The official currency in Thailand is the Thai baht (THB).
The Thai baht has been pegged to several currencies throughout its history, including silver, the British pound sterling, the Japanese yen, and the US dollar.
The exchange rate fluctuates, but as of November 2024, you can refer to currency exchange platforms for the most up-to-date information.
It is recommended to exchange your Australian dollars (AUD) to Thai baht before arriving in Thailand, as the AUD may have less favourable exchange rates overseas. You can use Australia's largest foreign exchange provider, Crown Currency Exchange, with stores in Sydney, Melbourne, Brisbane, Gold Coast, Canberra, Adelaide, Tasmania, and Perth.
A comfortable budget for Thailand can be achieved by spending around ฿4,900 THB, which allows for slightly more expensive accommodation and activities.
