Last updated on 22 Dec 2020
Thailand is a very sought-after travel destination. One significant reason why Thailand draws such a huge number of tourists is that it offers diversity to tourists/travelers. Thailand has many things to offer, including amazing wildlife, mesmerizing beaches, beautiful architecture, and overall serenity. This combination is a dream come true for every traveler or tourist. But one thing that confuses everybody is “Which currency is the best one to use in Thailand?”. At BookMyForex, numerous customers were contacted who have indulged in exchanging currency with us for the trip to Thailand. From all their feedback, we were able to find an answer.
Which currency is the best one to use in Thailand?
To answer the above question, we will dissect 3 scenarios:
1: To carry US dollars
2: To carry Thai Baht
3: To carry Indian Rupees and convert them in Thailand.
Tip: The worst stuff people can do is convert their INR to THB at airports.
Let’s start by keeping the budget for the trip to Thailand as INR 50,000.
1st Scenario: To carry US dollars to Thailand
You need to convert INR to USD. Then, after the conversion, load it into a Forex card. You can also take it in the form of currency notes. At BookMyForex.com, we recommend you to carry USD in a Forex card. But, most of the customers that we interacted with told us that many places do not accept the US Dollar. So, you need to convert Dollar to Thai Baht. You have to pay double currency conversion charges while converting USD to THB.
So, according to the live rate card of BookMyForex:
INR 50,000 = USD 776 (Exchange rate at BookMyForex)
USD 776 = THB 24243 ( Based on the rates of the Bank of Thailand)
Tips: If you are carrying with you a hundred dollar bill, you will need to convert it completely. But, you will not get any change back.
2nd Scenario: To carry Thai Baht to Thailand
You need to convert INR to THB. In this way, you would be able to use the currency right away without the need to exchange it further in Thailand.
So, INR 50,000 => THB 23466 (Exchange rate at BookMyForex)
3rd Scenario: To carry Indian Rupees to Thailand
From all the feedback that we have received, we observed that In Thailand, there are few options for converting INR to THB. Even if there is availability, the charges will be very unfavorable and too high.
INR 50,000 = THB 21795 (Rates of Bank of Thailand)
Now, see yourself by comparing the first two and you would be able to see the difference. You are going to lose a substantial amount of money in Thailand when converting INR to THB.
Which Currency one should take to Thailand?
The best option is converting INR to USD here in India as it is cheaper. In India, converting INR to Thai Baht is very expensive. At Bookmyforex.com, you can get USD for Interbank Rates with a surcharge of 0.5%. In Thailand, for the same margin, you can exchange USD for Thai Baht. You need to pay 1% conversion charges for that.
At an airport, never indulge in changing the currency because they will end up robbing you. At an airport, changing currency will cost you a lot of money.
But if you are lucky enough to get INR to Thai Baht, you will get it with an interbank rate plus the 5 to 6 percent conversion charges.
Thai Baht is regarded as an exotic currency, which means that it is not easily available in the Indian market and is thinly traded.
Frequently Asked Questions
For a day in Thailand, how much money one needs?
In Thailand, on average, one needs about 25 USD per day. If you want to have a bit more comfort while staying there, then you will need around USD 30 to 35.
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