Joanna James
Thailand is among the most visited countries in Asia, with millions of tourists flocking each year to enjoy its vibrant urban life, tropical shores, and rich culture. However, before you indulge in shopping, touring, and discovering, there is one travel task you cannot overlook: currency exchange. Learning to get the most favourable exchange rates and avoid unwanted fees can save you a significant amount of money on your trip. Here are five need-to-know facts for navigating currency exchange in Thailand.
The unit of currency in Thailand is the Thai Baht (THB), which is printed in coins and bills. Bills are printed in denominations of 20, 50, 100, 500, and 1,000 baht, while coins are in denominations ranging from 1 to 10 baht. Get familiar with the currency so that you do not get confused when you dine or shop. Small denominations are especially convenient for taxis, street stalls, and markets. Most travellers are still surprised at how cash-heavy the economy still is, so ensure that you have some bills on hand, particularly when you step out to see local attractions or smaller shops at the best malls in Bangkok.
Airports and hotels could be handy locations to change money, but there tends to be a less favourable rate than at the specialised exchange booths in the city. In Bangkok, one finds good exchange services with more favourable rates and smaller commission charges. One of the most reliable sites for visitors is MBK Center, where various exchange booths are located. These booths are not only secure but transparent regarding their rates. To get the best deal, compare several counters before exchanging. Don't use street vendors or unverified services, as there can be some hidden risks.
Rates of currency exchange differ from one counter to another, even for the same location. A wise traveller always compares rates at various counters before choosing to exchange. Web and mobile apps can also give you current details about the worth of the Thai Baht against your own currency. For large currencies, even small changes in the rate will mean huge savings. While tourist spots may have good exchange rates, don't forget to approach lesser-known counters close to commercial or shopping centres because rates there are normally better.
ATMs are widely available throughout Thailand, but foreign withdrawals are expensive. Every Thai bank charges a fixed rate of 200–220 THB per withdrawal, and then there are fees from your home bank. It is money-saving to withdraw money in larger amounts less frequently instead of accepting multiple small withdrawals. Some ATMs also allow you to decline conversion fees, which will save you money. Choosing a travel-friendly debit card or credit card with no foreign transaction fee is another smart decision. Through this, you can save unnecessary fees and still have the option of cash at times.
Despite the fast pace of modernisation in Thailand, cash is still the most used mode of payment in most cases. Street vendors, tuk-tuk drivers, and evening markets generally only accept cash. But most malls, hotels, and restaurants in big cities do. The most sensible policy is the balanced one: carry enough cash for small purchases but employ credit or debit cards for big ones. Carry small bills for everyday use and avoid flaunting big piles of cash when you are in public areas. Carrying both cash and cards will keep you out of trouble while moving from one region of the country to another.
A true believer that the pen is a mighty weapon, ventures into reaching the minds of every reader with the earnest hope of leaving an indelible stream of thought.
A travel writer who has a passion for fashion and a deep interest in admiring new and exotic attractions around the world.
