THB to INR: Historical Exchange Rate of Thai Baht to Indian Rupee

THB to INR | Historical Exchange Rate of Thai Baht to Indian Rupee

History of Thai Baht

Thai Baht is the currency of Thailand. Due to Thailand’s economic rise, it has become a favourite instrument for foreign currency traders. There are 185 currencies according to International Standard Organization, very few trade outside of their country. However, according to Bank of International Settlement, Thai Baht was the 23rd most traded currency in 2016. Thailand is the top destination for global tourism. It is the origin for agricultural and manufacturing exports. Thai Baht was first used in Thailand in the 19th century but became an official currency in 1897.

What is Exotic Currency?

Exotic currencies are currencies that trade thinly which means they are not available easily. Such currencies lack market-depth and are traded at low volume. The plight of an exotic currency often depends on the changes in the political landscape. During a political instability, the exotic currency will depreciate at a rapid rate. They are not easily available in the market. So, the best option is to convert INR to USD in India. Converting Inr to an exotic currency is way more expensive than converting INR to USD first and then Usd to the particular exotic currency.

Economy of Thailand

Thailand is the world’s 22nd largest economy according to the GDP. Though Thailand attracts huge numbers of Tourists from all over the world, it is still a country whose economy is heavily dependent on exports and industry. Exports account for over two-thirds of the nation’s GDP. The service and industrial sectors are the primary sectors that make up the Thai gross domestic product. The tourist industry is also essential for Thailand’s economy. Political instability in the region plays an important role in determining the value of Thai Baht. The Thai economy, however, has seen slow growth in recent years due to weak global demand and domestic political turmoil brought by coup d’état in 2014. However, the government has managed to maintain low inflation and a stable local currency.

The Position of Thai Baht in 2018:

2018 was a crucial year for the Thai Baht. The currency recovered brilliantly against the dollar after going through a brief sell-off earlier this year. A stronger Thai Baht can affect Thailand’s export industry. The Thai Baht has managed to reach a level this year that it has not reached since October 2013. It had hit 31.11 against the Dollar in mid-April. This has to lead to the exporters complaining about the strong currency making their products uncompetitive. During mid-July, the value of baht fell to 33.52 against the dollar due to the broad sell-off in the emerging market currencies. Lately, it has rebounded to around 32.63 against the greenback. On summing up this year, baht has just lost 0.2% in value against the dollar.

THB to INR Exchange Rates (1950-2018)

Historical Exchange Rates-Thai Baht to Indian Rupee

Here is the summary of the historical exchange rate of THB to INR from the period January 2004 to November 2018.

Source: Xe.com.

THB to INR in India

Thailand being a very popular tourist destination, attracts an enormous amount of tourists. You can find magnificent beaches, magical wildlife and overall tranguility there. Now the major concern here is ‘ what currency one should carry to Thailand ?’ Bookmyforex will help you to get this confusion sorted by providing the best THB to INR rates online from the comfort of your home.