Baht

The baht is the monetary unit of the Thailand (in Thai บาท, symbol ฿, code ISO 4217: THB ). It is divided virtually into 100 satangs , but with the wire of time this subdivision became quasi obsolete. Only remain only of the parts of 25 and 50 satangs.

The term baht also remained a measurement of weight still used currently in the trade of gold and representing 15 grams.

History

The origin of this monetary system goes back to the end of the 19th century.

At that time, the part of a tical was out of money and weighed approximately 15 grams, comparable with the part of 2 francs of the germinal system French. In the beginning, this name bath was that of a unit of weight of approximately 15 gr. the tical , weighing 15 money gr., was thus named baht , but the old denomination tical will perdura in the population, in particular because it was engraved on the parts still used.

Current the Decimal system, subdividing the baht in 100 satangs (สตางค์), was introduced in 1897 by the king Rama {{V}}, Chulalongkorn, but little used. In 1902, the monetary system still consisted of:

  • Silver moneys:
    • 1 tical (1 bath, is 100 satangs ): 15,244 G
    • 1 salung (1/4 tical , is 25 satangs ): 3,8 G
    • 1 fuang (1/2 salung , is 12,5 satangs ): 1,9 G
  • Currencies of copper:
    • 1 song phai (2 phai , is 6,25 satangs ): 18,9 G
    • 1 phai (1/4 fuang , is 3,125 satangs ): 11,3 G
    • 1 att (1/2 phai , is 1,5625 satangs ): 5.6 G
    • 1 solot (1/2 att , is 0,78125 satangs ): 2.8 G

During years, like the European currencies, the baht was devaluated and the coin was struck in Nickel, and the name tical was definitively replaced by the name baht in the years 1940, and centesimal division, the satang was more commonly used, the old binary subdivisions of the tical being badly adapted to the uses countable and become too weak in value for the commercial exchanges, and not being reproduced more on the new coins only struck in baths or satangs .

After the Second world war, an economic agreement bound the baht to the American Dollar for a rate of approximately 25 THB for 1 USD.

But in July 1997, the bursting of the Real estate bubble inhabitant of Thailand caused a financial crash landing which extended to all the Asian economy, the baht had to be solved with becoming a floating currency what involved strong a Dévaluation with 32 THB for 1 USD on July 31st, 1997 before floating quotations. Since, the bath continued to be depreciated gradually vis-a-vis the dollar but in a less brutal way.

Parts and tickets currently in circulation

Parts
  • 25 cupronickel satangs (little used)
  • 50 cupronickel satangs (little used)
  • 1 nickel bahts
  • 2 nickel bahts (part put in circulation in March 2006)
  • 5 bi-metallic nickel bahts
  • 10 bahts (very comparable with the part of 2 euros)

Tickets

  • 10 bahts (old emission in the process of disappearance)
  • 20 bahts
  • 50 bahts
  • 100 bahts
  • 500 bahts
  • 1  000 bahts (ticket appeared in 2001)

Currently, (2006), for the tickets from 20 to 500 baht, the old series still circulates but rarefies, replaced by a new protected series (photograph opposite) appeared as from 2001.

External bonds

  • Some tickets inhabitant of Thailand
  • Conversion THB/EURO

Be-X-old: Бат

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