Baht is the currency of Thailand. Bahts come in various colours, each colour standing for a particular denomination. The smaller denominations are called Satangs and 100 Satangs make 1 Baht.
Notes are available in denominations of 1000, 500, 100, 50, 20 and 10 Baht. The coins are available in denominations of 1, 5 and 10 Baht and 25 and 50 satang.
Brass and silver are used in the making of coins and their size might differ. Arabic numerals are used to denote the recent coins while the notes contain both the Thai and Arabic numerals. The denominations of the notes vary in terms of size and colour. Each bank note bears a portrait of the King.
In Thailand, the rate of exchange varies daily. The approximate rate of exchange is 1 US$ equal to 34 Baht. The option of currency exchange can be availed in tourist areas, big hotels and bureaux de change but the best rates are offered by banks. Banks operate from Monday to Friday, between 8:30 am to 3:30 pm.
ATMs are available in Chiang Rai. Most ATM services support the English and Thai languages. However, ATMs run out of money at times.
Thailand widely accepts the use of credit and debit cards like Visa, MasterCard and American Express. Before availing this option, tourists must confirm with their card companies regarding the charges, facilities and acceptability of the cards.
Tourists can also opt for travellers’ cheques as they are accepted in most hotels, shops and banks. The cheques are useful in avoiding the exchange rate charge. It is good to carry Pounds Sterling, US Dollars or Euros as these currencies are accepted in some places.
Thailand does not impose any limitation on the export and import of foreign currency but places restrictions on the local currency. People who hold only one passport are not allowed to export local currency above 50,000 Baht and for families, above 100,000 Baht.