Thai Baht (THB)
฿ · Official currency of Thailand
THB at a glance
Every fact on this page is drawn from Bank of Thailand or another primary source — see the 9 sources cited below.
| Currency | Thai Baht |
|---|---|
| ISO 4217 code | THB · number 764 |
| Symbol | ฿ |
| Minor unit | 1 THB = 100 satang |
| Used in | 1 country or territory |
| Pegged to | Not pegged |
| Central bank | Bank of Thailand |
| Official rates | Bank of Thailand → |
| Introduced | 1902 |
Where the Thai Baht is used
- Thailand
Exchange rate regime Managed float
Thailand operates a managed float exchange rate regime: the Bank of Thailand states that market mechanisms determine the baht's value, and that it may intervene when the currency becomes excessively volatile. Exchange rate policy sits within the Bank's wider integrated policy framework, alongside a flexible inflation-targeting monetary policy aimed at price stability, growth near potential, and financial stability.
About the Thai Baht
The Thai Baht (THB) is the official currency of Thailand, issued by the Bank of Thailand, the country's central bank. Its symbol is ฿, and under the Currency Act B.E. 2501 (1958) one baht divides into 100 satang. The Bank of Thailand was established by the Bank of Thailand Act of 16 April 1942, beginning operations that December and taking over currency issuance from the earlier Thai National Banking Bureau. Its modern banknotes date further back, to 24 June 1902, when the Siamese Currency Notes Act created the Thai Banknotes Department, which issued the country's first modern government notes that September. The baht circulates only within Thailand; no other country or territory uses it officially.
Exchange rate policy at the Bank of Thailand is one strand of a wider integrated policy framework that also spans monetary, financial, macroprudential and capital-flow policy; on the monetary side, a flexible inflation-targeting framework pursues a medium-term target of 1.0 to 3.0 percent, alongside goals of growth near potential and financial stability. Within that framework the baht is left to find its own level, with the central bank stepping in only when it judges movements excessively volatile.
Thailand pegged the baht at 25 per US dollar until speculative pressure during the 1997 Asian financial crisis forced the Bank of Thailand to spend USD 24,000 million, two-thirds of its international reserves, defending the rate; reserves fell from USD 38,700 million in 1996 to just USD 2,850 million. On 2 July 1997 the Bank of Thailand announced the end of the fixed exchange rate system and floated the baht.
In the Bank for International Settlements' Triennial Central Bank Survey, the standard measure of global foreign-exchange activity, the baht recorded average daily turnover of USD 48 billion in April 2025, 0.5 percent of global two-sided turnover and the 24th-highest among individually reported currencies, just behind the Turkish lira and ahead of the Israeli shekel. Turnover has grown steadily, from USD 18 billion in the 2016 survey to USD 31 billion in 2022 and USD 48 billion in 2025.
Circulating banknotes belong to Series 17, first issued 28 July 2018: the 20, 50 and 100 baht notes have since been reissued in polymer, most recently the 50 and 100 baht notes on 21 November 2025, while the 500 and 1,000 baht notes remain paper. Coin minting is a separate function of Thailand's Ministry of Finance under the Currency Act, rather than the Bank of Thailand; circulating coin denominations are not listed here pending a citable primary source from the Ministry of Finance, the Royal Thai Mint or the Treasury Department.
THB coins & banknotes
- ฿20 (polymer)
- ฿50 (polymer)
- ฿100 (polymer)
- ฿500
- ฿1,000
THB quick facts
- The Bank of Thailand's own retrospective on the 1997 crisis, titled "Lessons Learnt from the Asian Financial Crisis," repeatedly calls the episode the "TomYam Kung Crisis" instead of its formal name.
- On 2 July 1997 the Bank of Thailand floated the baht after spending two-thirds of its reserves defending the 25-per-dollar peg.
- The baht saw average daily FX turnover of USD 48 billion in the BIS's April 2025 Triennial Survey, the 24th-highest of any currency.
- Thailand's first modern government banknotes were issued 23 September 1902, under the Siamese Currency Notes Act of 24 June 1902.
- The Bank of Thailand issued 50 and 100 baht polymer banknotes on 21 November 2025, completing a rollout begun with the 20 baht note in 2022.
THB frequently asked questions
Is the Thai baht pegged to another currency?
No. The Bank of Thailand operates a managed float, under which market forces set the baht's value and the central bank intervenes only to curb excessive volatility. Thailand did fix the baht at 25 per US dollar until speculative pressure forced the Bank of Thailand to float the currency on 2 July 1997, an event that opened the Asian financial crisis.
What is the symbol for the Thai baht?
The Thai baht uses the symbol ฿, and the ISO 4217 code THB, numeric 764, identifies it internationally. One baht divides into 100 satang under Thailand's Currency Act B.E. 2501 (1958). Both banknotes and coins are legal tender: the Bank of Thailand prints and issues the notes, while Thailand's Ministry of Finance separately mints the coins.
Who issues the Thai baht?
The Bank of Thailand, the country's central bank, prints and issues Thai banknotes under the Currency Act B.E. 2501, most recently the Series 17 notes introduced from 28 July 2018. Coins are minted separately by Thailand's Ministry of Finance. The Bank of Thailand itself was established under the Bank of Thailand Act of 16 April 1942, beginning operations that December.
Why did the Thai baht trigger the 1997 Asian financial crisis?
Thailand held the baht fixed at 25 per US dollar for years, but speculative selling in 1997 forced the Bank of Thailand to spend roughly two-thirds of its international reserves — about USD 24,000 million — trying to defend that rate; reserves fell from USD 38,700 million in 1996 to just USD 2,850 million. Unable to hold the peg, the Bank of Thailand floated the baht on 2 July 1997, a shock that spread across the region and became known as the Asian financial crisis — an episode the central bank's own retrospective calls the "TomYam Kung Crisis."
Explore THB
Facts on this page are sourced from Bank of Thailand and other primary references (9 sources). Rates are mid-market and for information only.
Sources for this THB profile
9 primary sources behind the facts above, each listed with the sections of this page it is cited for. Links open on the publisher's own site.
- Bank of Thailand www.bot.or.th/en/our-roles/monetary-policy/about-monetary-policy.html Cited for: Exchange rate regime · About · FAQ
- Bank of Thailand www.bot.or.th/en/our-roles/monetary-policy/monetary-policy-target.html Cited for: Exchange rate regime · About
- Bank of Thailand www.bot.or.th/en/our-roles/banknotes/History-and-Series-of-Banknote-And-Commemorative/banknotes-series/banknote-series17.html Cited for: Coins & banknotes · Quick facts · About · FAQ
- Bank of Thailand www.bot.or.th/en/our-roles/banknotes/History-and-Series-of-Banknote-And-Commemorative/current-series-of-banknotes.html Cited for: Coins & banknotes
- Bank of Thailand (Currency Act B.E. 2501) www.bot.or.th/content/dam/bot/documents/en/laws-and-rules/laws-and-regulations/legal-department/2-currency-act/2.1%20LAW02_CurrencyAct.pdf Cited for: Coins & banknotes · Where it is used · Minor unit · About · FAQ
- Bank of Thailand www.bot.or.th/en/our-roles/banknotes/History-and-Series-of-Banknote-And-Commemorative/banknote-evolution.html Cited for: Introduced · Quick facts · About
- Bank of Thailand www.bot.or.th/en/our-roles/special-measures/Tom-Yum-Kung-lesson.html Cited for: Quick facts · About · FAQ
- Bank for International Settlements www.bis.org/statistics/rpfx25_fx.pdf Cited for: Quick facts · About
- Bank of Thailand www.bot.or.th/en/about-us/history.html Cited for: About · FAQ