What currency can be exchanged in Thailand. What is the exchange rate of national currencies in Thailand
May 14, 2022
What is the currency in Thailand
The national currency in Thailand is the Thai baht. The Thai baht exchange rate is stable and is about 32 baht to 1 US dollar (in recent years, the Thai baht has floated in the corridor of 30-34 Thai baht to 1 US dollar).
In Thailand, only Thai baht is accepted for payment. All prices are also in Thai Baht.
No need to rely on the fact that somewhere you can pay in dollars.
What currency to take to Thailand
In Thai exchange offices, you can exchange many national currencies.
You can see an example of the exchange rate in exchangers on the title photo for this post.
You can also see what currencies can be exchanged in Thailand and their rates at the following links:
- Krungsri bank exchange rates: https://www.krungsri.com/en/exchangerate/Todayrates
- Bangkok Bank exchange rates: https://www.bangkokbank.com/en/Personal/Other-Services/View-Rates/Foreign-Exchange-Rates
- Superrich exchange rates: https://www.superrichthailand.com/#!/en/exchange
However, you need to be aware that exchange rates may not be profitable compared to buying dollars in advance in your country and exchanging dollars in Thailand.
That is, it is recommended to buy dollars or euros in your country and come to Thailand with this currency. Then in Thailand, exchange dollars for Thai baht.
Please note that the dollar exchange rate depends on the denomination of the bill! The most favorable exchange rate for banknotes in denominations of 50 and 100 dollars.
Where to exchange currency in Thailand
In Thailand, it is quite common for a bank office and a bank exchange office to be separated. If you see currency exchange rates, then here you can exchange dollars and other currencies for Thai baht, as well as buy currencies of different countries for Thai baht.
You can find currency exchangers on the streets, shopping malls, airports, BTS stations and subways – in a variety of crowded places, especially tourists.
Exchange rates in different banks are slightly different – in some of them you can find more favorable exchange rates.
In addition to banks, you can exchange currency at Superrich.
Superrich is a financial institution specializing in currency exchange. Superrich usually has the best exchange rates for the client.
Remember that in order to exchange currency in Thailand, you need to have an identity card: international passport, ID.
What is the exchange rate of my currency against the dollar in Thailand?
How to calculate the exchange rate against the dollar in Thailand? For example, I want to come to Thailand with my national currency. What is the exchange rate of my currency against the dollar in Thailand?
For example, I want to come to Thailand with Russian rubles. What is the exchange rate of the ruble in Thailand?
The photo below shows the exchange rates in the exchanger. If you are changing currencies to Thai baht, then you need to look at the “Buying” column.
The exchange rate of the ruble at the time of photographing is 0.33 Thai baht to 1 ruble.
Calculation of the selling rate of the national currency in Thailand
To calculate the selling rate of your national currency against the dollar in Thailand, you need to use the following formula:
In this formula:
Buying – the rate of the national currency that you want to exchange for dollars to the Thai baht
Selling – the selling rate of the dollar (column Selling) to the Thai baht
For example, the buying rate of the Russian ruble to the Thai baht is 0.33, and the selling rate of the Thai baht to the dollar is 35, then the ruble to the dollar in Thailand:
That is, 1 US dollar costs 106.06 rubles in Thailand. That is, for 106.06 rubles in Thailand, you can buy 1 US dollar.
Calculation of the purchase rate of the national currency in Thailand
To calculate the purchase rate of your national currency against the dollar in Thailand, you need to use the following formula:
In this formula:
Buying – dollar buying rate in Thai baht (Buying column)
Selling – the buying rate of your national currency that you want to buy in Thailand to the Thai baht
For example, the buying rate of the Thai baht against the dollar is 34.4, and the selling rate of the ruble against the Thai baht is 0.465:
That is, for 1 US dollar in Thailand you can buy 73.98 rubles.
How to transfer money to a bank account in Thailand from abroad
The fastest and cheapest way to fund a bank account in Thailand from abroad is the PaySend international money transfer service – download this application for your phone or go to the official website: https://paysend.com/
This service does not require verification and allows you to easily send international money transfers with no commission or with a flat commission of $1, regardless of the transfer amount. When sent to the card number, the money is credited instantly, and when sent to bank details the money is credited within 1-3 business days.
To make a transfer from abroad without commission in PaySend, specify the invite code: 0d8425
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