The Thai baht (THB) is the official currency of Thailand. It was part of the complex monetary system that Siam had. The word baht was used to describe the weight of silver (15 g of silver). Though the term baht was used to refer to Thai money for centuries, it wasn’t until King Rama V, also known as Chulalongkorn, implemented reforms that included the decimalization of the Thai baht. The modern Thai baht is equivalent to 100 satang.
The Bank of Thailand has the exclusive authority to issue Thai currency. It was established and started its operations in 1942. The bank inherited the duties and responsibilities of the National Banking Bureau.
Thai banknotes are issued in denominations ranging from 10 baht to 1,000 baht. Each note features the reigning king of Thailand and other symbols in front and depictions of Thailand’s history at the back. Meanwhile, coins are issued in values ranging from 25 satang to 10 baht. Coins often feature the first king, Phraphutthayotfa Chulalok (also known as King Rama I), the founder of the Chakkri dynasty.