Understanding Thai Baht: A Complete Guide to Money in Bangkok
Photo by: Taalulla via iStock
Before you go to Bangkok, one of the smartest things you can do is learn how to use the local cash. The city has a lot to offer regarding street life, high-end shopping, and delicious food, but it can be hard for first-time guests to figure out how to manage their money.
Whether you're riding a tuk-tuk, getting a bowl of tom yum soup, or booking a hotel by the river, understanding how money works in Bangkok will allow you to stay away from tourist traps, make smart budgeting decisions, and be at ease with your money.
This guide will tell you everything you need to know, from how to exchange your money in the best way to when to swipe your card or take small change. Even though Bangkok is a great place to visit, it's always helpful to know a few things about the money in Thailand before you go.
The Official Currency of Bangkok: Thai Baht (THB)
When you're in Bangkok, you'll use the Thai Baht, which is represented by the symbol ฿ and the international code THB. It's the only currency that can be used to buy things in most areas in the city, from food stands to shopping centers.
The Baht is equal to 100 satang, which is like how one dollar is equal to 100 cents. There are coins and bills in Thai money. Most coins are worth 1, 2, 5, or 10 baht. There are also smaller coins like 25 and 50 satang, but they are not used very often.
Twenty, fifty, one hundred, five hundred, and one thousand baht bills are more popular. It's easy to tell the difference between the notes because they are all different colors. 20 baht notes are green, 50 baht notes are blue, 100 baht notes are red, 500 baht notes are purple, and 1,000 baht notes are brown.
The Thai Baht has been around for a long time. The first time it was used was in the 1800s, replacing a system of money that used a measure called "tical." Today, the Baht is completely modernized, and the Bank of Thailand keeps it safe and stable.
Thai bills have pictures of the Thai King on the front and renowned national sites or symbols on the back. The quality and style are pretty good, and there are security measures like watermarks and clear visuals to keep fakes out.
If you know how Thai money looks and how much it's worth, you won't make any mistakes when giving or getting change. It also comes in handy when you exchange money or use an ATM. After learning how to use the Baht, you'll be able to enjoy Bangkok like a local.
Current Exchange Rates: What’s Your Money Worth?
You can better plan your trip if you know how much your money is worth in Bangkok. Knowing how exchange rates work can also help you manage your money better. Conversion differences, even small ones, can add up to big savings on your trip.
THB's value changes often against other currencies. On average, 1 USD equals 35-36 THB, 1 EUR = 38-40 THB, 1 GBP equals 44-46 THB, and 1 AUD equals 23-24 THB. Prices can change every day, so these are just approximate amounts.
Many things can cause exchange rates to change. A lot of different things, like Thailand's economy, tourist trends, or events happening around the world, can make or break the Baht. In times with many vacationers, for instance, the Baht may go up. It could go down if there is political unrest or a drop in tourists.
Travelers should use apps and websites they know they can trust that show real-time exchange rates to stay up to date. One of the most popular apps is XE Currency. It's simple to use and lets you set your alerts for when rates reach your desired level. Wise, which used to be called TransferWise, not only shows you rates but also helps you send money with very low fees. There's also Google Search, which is quick. Type in "1 USD to THB" to get the current exchange rate right away.
Can You Use Foreign Currency in Bangkok? (Spoiler: Not Really)
You should think twice about bringing U.S. dollars, euros, or any other foreign currency and us it as is in Bangkok. Thai businesses really prefer their own currency in most transactions. In Bangkok, most places won't take anything else.
Shops, stores, food stands, and cabs in the area only accept Baht. This helps them with setting prices, giving change, and keeping the books. Plus, it's the rule that stores must show and take payments in the national currency. So bringing crisp $100 bills probably won't help you get a train ticket or a bowl of noodles.
However, there are several exceptions. Foreign money is accepted at certain luxury hotels, high-end jewelry stores, or airport duty-free outlets; yet, it is not guaranteed even then. Usually, they add extra fees or use weak conversion rates, so you still spend more than you ought to.
Paying in foreign currencies outside these exceptions could cause confusion or even annoyance. Vendors might turn down your payment or worse provide a substandard exchange on demand to profit from you.
What is the wise move? Stick to Baht, and your experience exploring Bangkok will be lot more seamless. As soon as you can, either at a reputable exchange facility in the city or at the airport (if necessary), convert your money to Baht. It will save you difficult conversations, time, and money.
Where to Exchange Your Money in Bangkok: Smart Traveler Tips
When it comes to receiving the greatest value for your cash in Bangkok, where you convert your currency is as important as the rate itself. Though there are many choices, not all of them have equal value, convenience, or safety.
First, let us think of the airport. Great if you arrive late as currency exchange facilities at Suvarnabhumi or Don Mueang airports are open 24/7. The drawback is obvious, though: often the rates work against you. If you must exchange money at the airport, just change a little to pay for immediate food or transportation.
You can trust banks and their exchange desks, but the rates they offer are usually a little lower than those at specialized booths. Forms and ID checks can also make the process take longer.
To get the best deal, go to a city exchange booth you can trust. Two of the best-known names are Vasu Exchange in the Sukhumvit area and SuperRich Thailand, which has orange and green locations. These places always have some of the best deals in Bangkok with very little additional fees. Also, they're professional, and both locals and tourists use them a lot.
On the other hand, stay away from sketchy conversion establishments in areas with lots of tourists. Rates that look "too good to be true" usually are. Don't exchange money to people you meet on the street; scams happen all the time. Make sure that the booth always gives you a receipt and has a clear, up-to-date rate board.
If you exchange money at the right place, you'll keep far more Baht in your wallet and avoid stress. Getting a smart exchange is the first thing you need to do to spend smart in Bangkok.
ATM Withdrawals: Is It Safe? Is It Costly?
One easy way to get Thai Baht in Bangkok is to use an ATM, but you should know how much they cost and what the best practices are. There are ATMs in malls, outside of banks, at 7-Elevens, at BTS stations, and even at midnight markets. They are easily accessible and are generally open 24 hours a day, seven days a week.
There are, however, fees when you use a foreign card to take money. Most Thai ATMs charge a set fee of about 220 THB ($6–7 USD) each time you take out cash. In addition, the bank where you normally do business may charge its own fees for foreign transfers or withdrawals. If you take out small amounts of money often, that can add up.
Instead of taking out a lot of small amounts of money all at once, it's better to take out bigger amounts less often. Also, if the ATM gives you the choice, always pick to be charged in Thai Baht instead of your home currency. This will keep the machine's supplier from giving you a bad exchange rate.
You won't save much by going to different Thai bank ATMs because they all charge the same fee. But if you bank with Citibank or HSBC back home, you may be able to make payments without any fees. Before you leave, you should check with your bank.
All in all, ATMs are safe and simple to use, but the fees can add up quickly. If you plan ahead and take out only what you need, you won't have to pay more than you need to in Bangkok.
Using Credit and Debit Cards in Bangkok
Bank cards and credit cards are mostly accepted in Bangkok, but not everywhere. Most places, like shopping malls, hotels, stores, chain shops, and mid-range to high-end restaurants, let you use them. For now, though, it's best to bring some Baht with you just in case. Many small shops, food stands, and local markets still only take cash.
Know about the fees that come up when you use a card from another country. These fees range from 1% to 3% per buy, but it depends on your bank. Plus, there may be additional fees associated with foreign currency conversion that certain banks impose.
Contactless cards and mobile payments like Apple Pay and Google Pay can now be used in many places in Bangkok to make payments quickly and safely. You can save time with these, but they work best in bigger shops and places.
So, should you pay with a card or cash? For bigger purchases, cards are better because they are safer, easier to use, and often protect against scams. But cash is still the best way to pay for things like food stands and public transportation.
Digital Wallets & E-Payments: Is Thailand Going Cashless?
More and more people in Thailand, especially in Bangkok, use digital wallets and mobile payments. More and more Thai banking apps let you pay with apps like PromptPay, TrueMoney Wallet, Rabbit LINE Pay, and even QR codes. These are used to pay for everything in the area, from bubble tea to train rides.
But what about people from other countries? Most of these apps need a Thai bank account to work, but TrueMoney Wallet can be used by visitors with just an ID and a SIM card from a Thai phone company. It can be hard to set up, though, if you don't have a Thai bank account or phone number, and not all foreign cards work with these apps.
Paying online is faster, safer, and more convenient. There's no need to mess around with change or carry around a lot of cash. Mobile payments are quick and easy to use in busy places like stores, coffee shops, and BTS stops.
But there are also downsides. Some places, like small food stands and older businesses, don't accept digital payments. You're also stuck if your phone dies or the app acts awry.
Tipping Culture & Small Change: What You Need to Know
Though it's not required, tipping is always a nice thing to do in Bangkok. It's normal to leave 20–50 Baht in restaurants, especially high-end or middle-range ones, if service isn't already included. Ten to twenty Baht is a nice way to thank hotel workers, servants, or cab drivers for their good service.
Bring small bills, like 20, 50, or 100 Baht notes, or 10 Baht coins, so it's easy to leave tips. Market and street food sellers might not have change for big bills, and it's easier to tip when you don't have to break a 1,000 Baht bill.
In Thai society, it's also important how you treat your money. Don't crumple or toss bills; they have the picture of the King, and it's necessary to show respect. When giving someone money, you should always do it properly and with your right hand or both hands if possible, especially in a professional setting.
Final Thoughts: Bangkok Currency Tips for a Smooth Trip
Money may not be the most exciting aspect of vacation preparation, but in Bangkok, it may make all the difference. From busy night markets to rooftop bars, it's helpful to know how to pay and what to use. This will save you time, money, and awkward situations. Stick to Thai Baht, bring a variety of ways to pay, and don't forget how powerful small bills can be. You can keep up with the fast pace of Bangkok if you know how to handle your money well. Watch out for deals, plan, and make sure your money works for you while you enjoy all that the City of Smiles has to offer.
