Everything you need to know about money exchange in Bangkok.
The official currency of Bangkok is the Thai ‘Baht’ (THB). Paper currency (notes) comes in the range of 10 to 1000 baht and coins are issued in denominations ranging from 0.25 to 10 baht. All Thai currency has both western and Thai numerals written on them. The main coins in circulation are 1 baht, 5 baht and 10 baht. Furthermore, 1 baht is divided into ‘satang’ (1 baht=100 satang), and satang coins are available in denominations of 25 satang and 50 satang. Various transactions also happen via plastic money, in the form of debit and credit cards. For overseas visitors, currency conversion poses no problem.
An important tip: converting currency in Bangkok will always get you more baht than in your home country
Another important tip: Dont’t forget to take your passport with you as all banks and most money exchange boots will ask for it. They will make a copy of your passport to prevent fraud.
Best Money Exchange Rate in Bangkok
One of the best things about money exchange in Bangkok is that it offers better exchange rates than any other part of Thailand. Now, if you want to opt for currency conversion in the city, make sure that you exchange money only at a bank or similar foreign exchange facility, which gives the best exchange rates. You can also exchange money at the major hotels of the city. However, banks and money exchangers offer a better exchange rate as compared to these hotels. Many tourists also prefer exchanging currency at the international airport or the currency exchange outlets located near tourist areas. The currency exchange shop with the best rate is “Super Rich“. One of their exchange boots is at Siam Paragon.
Another thing to keep in mind is that traveler’s cheques get better exchange rate as compared to cash. Therefore, if you want to avoid additional exchange rate charges, better carry traveler’s cheques, if possible AMEX traveler’s cheques, and convert them into local Thai Baht, in a bank or a similar establishment. Besides, even though most Asian and European currencies find acceptance, it is better to bring U.S dollars or British pounds. Moreover, large denominations of money give a better exchange rate as compared to smaller denominations.