Thailand operates on the Thai baht, abbreviated THB and denoted by the symbol ฿. The Bank of Thailand, established in 1942, issues all currency and sets monetary policy from its headquarters in Bangkok. Banknotes circulate in denominations of 20 baht (green), 50 baht (blue), 100 baht (red), 500 baht (purple), and 1,000 baht (beige). Coins exist in 1 baht, 2 baht, 5 baht, and 10 baht values, with smaller 25 satang and 50 satang coins rarely encountered outside rural markets. Each banknote features King Bhumibol Adulyadej (Rama IX) on the obverse, with reverse designs depicting various Thai kings from the Chakri Dynasty. The 1,000 baht note shows King Bhumibol and King Bhumibol together. Since King Bhumibol's death in October 2016, the Bank of Thailand has gradually introduced notes featuring King Maha Vajiralongkorn (Rama X), though both series remain legal tender. Defacing or disrespecting currency constitutes a criminal offense under lèse-majesté laws, carrying penalties up to fifteen years imprisonment. Standing on money or using it as scrap paper has resulted in arrests of foreign nationals.
ATMs occupy every commercial street in Bangkok, Chiang Mai, Phuket, and Pattaya, with availability decreasing in smaller cities but still present in provincial capitals like Nakhon Ratchasima and Udon Thani. Thai banks charge foreign cardholders 220 baht per ATM withdrawal as of 2024, a fee that increased from 180 baht in 2016 and from 150 baht in 2013. This fee applies regardless of withdrawal amount. Bangkok Bank, Kasikornbank, Siam Commercial Bank, and Krungsri Bank operate the largest ATM networks. Maximum withdrawal limits range from 20,000 to 30,000 baht per transaction depending on the bank, with most machines dispensing only 1,000 baht notes. AEON ATMs, painted yellow and orange and located primarily inside shopping centers, charge no foreign transaction fee but offer lower daily limits around 20,000 baht. Your home bank likely adds its own foreign transaction fee of 1 to 3 percent and may charge an additional ATM access fee. A traveler withdrawing 20,000 baht faces the 220 baht Thai fee, approximately 3 percent of the home bank's fee, and any fixed fee from the home bank, potentially totaling 1,500 baht or more in combined charges on a single transaction.
Credit cards achieve widespread acceptance in Bangkok hotels, department stores, international restaurants, and tourist-oriented businesses, but cash dominates transactions outside major cities. Visa and Mastercard work more reliably than American Express or Discover. Street food vendors, local markets, songthaew drivers, tuk-tuk operators, and small guesthouses operate cash-only. Many Thai restaurants and shops add a 3 percent surcharge for credit card payments to offset merchant fees. Dynamic currency conversion, where the payment terminal offers to charge your home currency instead of baht, consistently delivers worse exchange rates than allowing the charge in baht and having your bank perform the conversion. Bangkok's BTS Skytrain and MRT subway systems accept contactless payment cards issued outside Thailand, but the Airport Rail Link, buses, and all transportation in other cities require cash or a locally purchased stored-value card.
Currency exchange counters cluster around tourist areas, offering rates that vary substantially within a single block. SuperRich Thailand, operating orange-fronted booths, and SuperRich 1965, with green signage, consistently post rates within 0.5 percent of the interbank mid-market rate. These two companies share similar names but operate independently following a family business split. SuperRich Thailand operates locations at Suvarnabhumi Airport's basement level near the Airport Rail Link, multiple booths around Pratunam and Siam in Bangkok, and branches in Chiang Mai near Tha Pae Gate. SuperRich 1965 maintains its headquarters at 1965/1 Phetchaburi Road in Bangkok's Ratchathewi district, with airport locations at both Suvarnabhumi and Don Mueang. Exchange rates posted at airport arrival halls before customs clearance typically run 3 to 5 percent worse than city center rates. Banks offer foreign exchange services during business hours, approximately 08:30 to 15:30 on weekdays, with rates falling between airport booths and SuperRich. Hotels provide the least favorable rates, often 5 to 8 percent below mid-market. Counterfeiting of US dollars, euros, and pounds occurs, so exchange booths inspect bills carefully and refuse notes with tears, excessive wear, or pre-2006 issue dates on US currency.
Bringing foreign currency into Thailand faces no legal limit, but amounts exceeding USD 20,000 or equivalent require declaration to customs on arrival. Failure to declare can result in confiscation and fines. Taking more than 50,000 baht out of Thailand without authorization from the Bank of Thailand violates currency controls. These restrictions apply to Thai currency only; departing with foreign currency follows the same USD 20,000 declaration threshold. Travelers have been fined at Suvarnabhumi Airport for attempting to leave with undeclared baht amounts above the limit.
Mobile payment systems, particularly PromptPay, dominate domestic Thai transactions but require a Thai bank account and phone number to establish. Foreign visitors cannot access PromptPay during short stays. Alipay and WeChat Pay acceptance exists in some tourist-heavy locations catering to Chinese visitors, but these serve niche markets rather than general infrastructure.
Daily costs in Thailand vary by city and consumption pattern. A plate of khao pad from a street stall costs 40 to 60 baht. Tom yum goong at a local restaurant runs 80 to 150 baht per bowl. Pad thai from a street vendor ranges from 40 to 70 baht, while the same dish in a tourist restaurant in Phuket or Bangkok's Khao San Road area reaches 150 to 250 baht. A bottle of Singha or Chang beer at a 7-Eleven costs 40 to 55 baht; the same beer at a bar on Bangla Road in Phuket or Walking Street in Pattaya runs 100 to 200 baht. A 330ml bottle of water costs 7 to 10 baht at convenience stores. Fresh mango sticky rice from a market stall costs 50 to 80 baht. Boat noodles in Bangkok's old town sell for 10 to 15 baht per small bowl, with diners typically consuming multiple bowls. Khao soi in Chiang Mai costs 40 to 80 baht at local shops. A meal at a mid-range restaurant serving Thai food runs 150 to 400 baht per person including a drink. International restaurants in Bangkok shopping centers charge 300 to 800 baht per person.
Guesthouse rooms in Bangkok's Khao San area or Chiang Mai's old city start around 300 to 500 baht per night for basic fan rooms with shared bathrooms. Air-conditioned rooms with private bathrooms in the same areas run 600 to 1,200 baht. Mid-range hotels in provincial cities like Nakhon Ratchasima or Udon Thani cost 800 to 1,500 baht nightly. Three-star hotels in Bangkok or Chiang Mai range from 1,200 to 2,500 baht. Beach resorts on Koh Samui or Phuket start around 2,000 baht for simple rooms and extend beyond 15,000 baht for high-season luxury accommodations. Rates on islands increase 30 to 50 percent during peak season, roughly November through February and July through August.
Bangkok's BTS Skytrain charges 16 to 59 baht depending on distance. The MRT subway runs 16 to 42 baht per journey. Local buses cost 8 to 24 baht depending on whether they are air-conditioned. The Airport Rail Link from Suvarnabhumi Airport to Phaya Thai station costs 45 baht. Metered taxis start at 35 baht and charge 5.50 baht per kilometer for the first 10 kilometers, then higher rates for greater distances; a typical 10-kilometer journey across Bangkok runs 100 to 150 baht without traffic delays. Tuk-tuks quote fixed prices; a 2-kilometer ride in tourist areas starts around 100 baht with negotiation sometimes bringing this to 60 to 80 baht. Motorcycle taxi rides for short distances within neighborhoods cost 10 to 40 baht. Grab, the Southeast Asian ride-hailing app, operates in Bangkok, Chiang Mai, Phuket, and Pattaya with fares comparable to metered taxis but with upfront pricing. Intercity buses from Bangkok to Chiang Mai cost 500 to 1,200 baht depending on bus class and company, with the journey taking 9 to 12 hours. Trains on the same route run 200 to 1,500 baht depending on class and sleeper accommodation. Budget airlines like AirAsia, Nok Air, and Thai Lion Air fly Bangkok to Chiang Mai for 800 to 3,000 baht depending on booking timing and included baggage.
Entry fees at Thai national parks operate on a dual pricing system where foreign visitors pay substantially more than Thai citizens. At Khao Yai National Park, foreigners pay 400 baht while Thais pay 40 baht. Erawan National Park charges foreigners 300 baht versus 100 baht for Thai nationals. Doi Inthanon National Park implements the same 300 baht foreign rate. Some parks check identification and charge residents of Thailand holding work permits the Thai rate. Historical parks follow similar patterns: Ayutthaya Historical Park charges 50 baht per foreigner at each temple complex, while Thais enter free. Sukhothai Historical Park charges foreigners 100 baht for the central zone and 150 baht for a combined ticket covering all zones. The Grand Palace in Bangkok costs 500 baht with no separate pricing for Thai nationals who enter free. Wat Pho charges foreigners 200 baht. Most neighborhood temples throughout Thailand impose no entry fee for respectful visitors with covered shoulders and knees.
Tipping does not form part of traditional Thai culture, but practices have evolved in tourist-facing businesses. Restaurants frequented by foreigners sometimes add a 10 percent service charge to bills, particularly in Bangkok and resort areas. Where no service charge appears, leaving 20 to 40 baht on bills under 500 baht and 50 to 100 baht on larger bills reflects appreciation rather than obligation. Street food vendors and local restaurants do not expect tips. Massage shops generally expect 50 to 100 baht per hour given directly to the therapist, not left at reception. Hotel porters receive 20 to 40 baht per bag. Taxi drivers do not expect tips; rounding up fares to the nearest convenient banknote is common practice. Tour guides typically receive 200 to 500 baht per day per traveler depending on tour quality and group size.
Bargaining applies in markets, with vendors at Bangkok's Chatuchak Weekend Market, Chiang Mai Night Bazaar, and street stalls throughout the country initially quoting prices 30 to 100 percent above what they will accept. Starting offers around 50 to 60 percent of the asking price begin negotiation. Department stores, 7-Eleven, shopping malls, and any business with posted prices do not negotiate. Tuk-tuk and songthaew fares require agreement before entering the vehicle. Pharmacy prices are fixed. Tailor shops on Sukhumvit Road or in Patong quote initial prices multiple times the final accepted price, with aggressive negotiation expected.
Thailand's value-added tax stands at 7 percent and applies to most goods and services, though street vendors and small shops incorporate this into their prices without separate line items. The VAT Refund for Tourists program allows foreigners to reclaim VAT on purchases totaling at least 2,000 baht in a single day from shops displaying "VAT Refund for Tourists" signs. Travelers must spend at least 5,000 baht across all purchases to qualify for the refund. At participating shops, request a VAT refund form and present your passport. At the airport before checking bags, present purchases, receipts, and completed forms at the VAT Refund Office for inspection and approval. After passing through immigration, collect the refund at the refund counter near the departure gates. The refund equals approximately 5 to 6 percent of the purchase amount after processing fees. Suvarnabhumi Airport and Don Mueang Airport both maintain refund facilities.
Bank opening hours run Monday through Friday from 08:30 to 15:30 for most branches, with some branches in shopping centers operating until 19:00 or 20:00 and opening on weekends. Government offices and many businesses close on Thai public holidays, which include New Year's Day (January 1), Makha Bucha Day (full moon of the third lunar month, typically February or March), Chakri Memorial Day (April 6), Songkran (April 13-15), National Labour Day (May 1), Coronation Day (May 4), Royal Ploughing Ceremony (date varies in May), Visakha Bucha Day (full moon of the sixth lunar month, typically May), Asalha Bucha Day (full moon of the eighth lunar month, typically July), Buddhist Lent Day (day after Asalha Bucha), Queen Sirikit's Birthday (August 12), King Bhumibol Memorial Day (October 13), King Chulalongkorn Day (October 23), King Bhumibol's Birthday (December 5), Constitution Day (December 10), and New Year's Eve (December 31). Banks and government offices close; tourist businesses generally remain open.
Money transfers into Thailand from abroad require consideration of exchange rate markups and transfer fees. Western Union and MoneyGram operate agent locations throughout Thailand but charge premium fees and offer exchange rates 2 to 4 percent worse than mid-market. Bank wire transfers through SWIFT typically cost USD 25 to USD 50 in fees from the sending bank, plus receiving fees from Thai banks ranging from 200 to 500 baht, plus exchange rate spreads. Online transfer services like Wise (formerly TransferWise) charge explicit percentage fees of 0.5 to 1 percent and use rates within 0.1 to 0.3 percent of mid-market, delivering better effective rates than banks for amounts above USD 500.
Currency fluctuations affect budget planning. Between 2015 and 2024, the Thai baht traded between approximately 30 and 37 baht per US dollar, between 37 and 44 baht per euro, and between 38 and 48 baht per British pound. The Asian financial crisis of 1997 saw the baht devalued from its fixed rate of 25 baht per dollar to floating rates that reached 56 baht per dollar by January 1998. The crisis originated partly in Thailand's asset bubble and triggered the Bowring Treaty-era policy reforms. By 2024, the baht operates under a managed float system where the Bank of Thailand intervenes to prevent excessive volatility but allows market forces to determine the general rate level. Political instability, coup attempts, and changes in government have historically triggered short-term baht weakness, typically 2 to 5 percent declines occurring over several weeks.
Counterfeit baht notes circulate at low rates, with 1,000 baht notes the most commonly faked denomination. Thai shopkeepers routinely inspect larger bills by holding them to light to check watermarks showing the king's portrait and security threads spelling out "ธนาคารแห่งประเทศไทย" (Bank of Thailand). The watermark appears on the right side of notes. Legitimate notes display sharp printing quality, particularly in the fine line patterns. When receiving change, checking large notes takes seconds and prevents later problems when attempting to spend counterfeit currency.
Carrying a mix of small bills reduces friction in daily transactions since street vendors and taxi drivers frequently claim they cannot make change for 1,000 baht notes. Breaking large notes at 7-Eleven by purchasing a water bottle or at department stores before needing taxi rides or street food prevents delays and occasional disputes. Keeping 100 baht and 500 baht notes accessible handles most situations smoothly.
Credit card skimming occurs at some establishments. Using cards at reputable hotels, department stores, and established restaurants minimizes risk. Covering the keypad when entering PINs at ATMs prevents camera-based PIN theft. Checking ATM card slots for signs of tampering before inserting cards remains standard practice. Incidents cluster around tourist-heavy areas in Pattaya and parts of Phuket more than in Bangkok or Chiang Mai, but vigilance applies everywhere.