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The baht (/ b ɑː t /; Thai: บาท, pronounced; sign: ฿; code: THB) is the official currency of Thailand. It is divided into 100 satang ( สตางค์ , pronounced [sà.tāːŋ] ). Prior to decimalisation , the baht was divided into eight fueang ( เฟื้อง , pronounced [fɯá̯ŋ] ), each of eight at ( อัฐ ...
The land which is now Thailand was once inhabited by various pre-historic communities. These groups of people left a heritage of social culture and ceremonies. [citation needed] In the ancient days of Thai society, before money was created to serve as a medium of exchange, humans traded goods by bartering for products of similar value.
The circulating banknotes today in Thailand, however, are ranged from 20 baht, 50 baht, 100 baht, 500 baht and 1000 baht. The currently circulating series are 17th, 16th and 15th series. Thai baht banknotes commonly include the portrait or the picture of the sculpture of its kings. The obverses have been designed with the current king's portrait.
However, Thailand lacked the foreign reserves to support the USD–Baht currency peg, and the Thai government was eventually forced to float the Baht, on 2 July 1997, allowing the value of the Baht to be set by the currency market. This caused a chain reaction of events, eventually culminating into a region-wide crisis. [40]
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2]; Exchange rate arrangement (Number of countries) Exchange rate anchor
The 100 baht note (100฿) is one of the most commonly used Thai baht banknotes and has been used since 1892. The 17th series notes are currently in circulation having been introduced in 2018.
Bullet money or bullet coins, known in Thai as photduang (Thai: พดด้วง; pronounced [pʰót.dûaŋ], also spelled pod duang, etc.), were a type of coinage historically used in Siam (now Thailand) and its predecessor kingdoms. They were almost exclusively made of silver, in the form of a bar bent into a roundish shape, and stamped ...
The Thailand twenty-five-satang coin is a currency unit equivalent to one-fourth of a Thai baht. It is commonly called salueng (Thai: สลึง) by Thai speakers. Salueng is the name of a historical Thai measurement, equal to one quarter of a baht or 3.75 grams (0.132 oz).