The local currency of Phuket is Baht, with 1 Baht divided into 100 Satangs. Bills come in denominations of 1,000, 500, 100, 50, 20, and 10 Baht. Bank notes are scaled and coloured according to value. Coins come in denominations of 10 Baht, 5 Baht, 1 Baht, 50-Satang and 25-Satang.

Thai Baht is the accepted currency in Phuket. 1 Thai Baht is equivalent to 1.5 Indian Rupees.

Currency conversion is relatively easy in a place like Phuket. The best way to exchange currency is one of the banks located in areas like Patong or Phuket Town. They usually charge a commission of 3-5% of the total transaction.

Bangkok Bank, Siam Commercial Bank, Bank of Asia and Krung Thai Bank are some of the banks which have branches in Phuket. Standard banking hours are 8.30 am to 3.30 pm (Monday to Friday). The ATMs of these banks are also located in many parts of the island.

Most major hotels provide currency exchange services but the rates are lesser than banks.
 
For travellers' cheques the commission rate is a bit more. Credit cards like Visa and Master Card are widely accepted in the island but Amex cards are not accepted by many businesses including banks.