The currency of Thailand is Baht. 1 Baht (Bt) = 100 satang. Notes are in denominations of Bt1000 (grey), 500 (purple), 100 (red), 50 (blue) and 20 (green), 10 (brown). Coins are in denominations of Bt10, 5 and 1, and 50 and 25 satangs. 1Re. is equivalent to 0.75 Bt.
Most banks and exchange booths in Thailand and Koh Samui facilitate conversion of major currencies like dollar, pound, euro etc. Charges for exchange of currencies are fairly similar throughout the island. Travellers can exchange their currencies for the Baht equivalent from banks and moneychangers in tourist areas.
Travellers’ cheques are safer and yield more exchange rates than cash. Major credit cards like VISA and Mastercard are also accepted at big stores and hotels. Normally a charge of 13 baht commission and duty per check is charged for exchange of travellers’ cheque against production of valid passport.
ATMs also provide currency exchange facilities. These are widely distributed in Nathon, Chaweng, Lamai, Bophut and Maenam. ATMs usually charge a handling fee of 1.5 percent for every withdrawal. Money transfers are possible within 20 minutes through the Western Union money transfer facility. However it is very expensive.
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