Buy, Sell Or Transfer Thai Baht At The Best Rates In India
BookMyForex Compares forex rates across hundreds of banks and forex companies in your area and helps you discover the best rate for your forex requirement
Live Thai Baht Exchange Rates
| THB Interbank Rate | ₹2.2993 |
| THB Buying Rate | ₹2.4093 |
| THB Selling Rate | ₹2.395 |
| THB Remittance Rate | ₹ |
Thai Baht is the official currency of Thailand. According to SWIFT, as of October 2014, the Thai baht ranked as the tenth most frequently used world payment currency. Bank of Thailand is responsible for issuance of Thai Baht. The currency code for Baht is THB.
Foreign debit and credit card withdrawals from Thai ATMs incur a 150 or 200 baht fee levied by the local ATM owner, in addition to any fees added by your home financial institution. This is set to increase to 250 baht in August 2016.
- Major credit cards such as Visa, Mastercard, JCB and American Express, are readily accepted at most hotels, airlines, restaurants and upscale merchants.
- To prevent your credit/debit card from being declined, it is important to advise your card issuer of your travel plans in advance.
- Some institutions routinely block/deny unexpected charges from Thai merchants for fear of possible fraudulent use.
THB Profile
Banknotes:
Freq Used: 20, 50, 100, 500, 1000
Central Bank:
Bank of Thailand
Website: http://www.bot.or.th/english/
Users: Thailand
THB Stats
Name: Thai Baht
Minor Unit:
1/100 = Satang
THB is known to be an 'Exotic currency' – Exotic currencies are illiquid, lack market depth and trade at low volumes— and the prices in India are often unfavourable. This is because the supply of Thai Bahts is often scarce in India. It is, therefore, often a smart travel decision to carry US Dollars in place of Thai Bahts when traveling to Thailand and exchange the USD for THB in Thailand. As counterintuitive as it may seem, the conversion from INR-USD-THB can indeed be significantly cheaper than the direct conversion from INR-THB. We recommend customers to explore both options before deciding to convert THB into INR
HISTORY OF THAI BAHT
THAI BAHT is the name of the official currency of Thailand. The Bank of Thailand is the central authority that takes charge of the issuance of the currency. The BAHT is a very strong currency when compared to the other currencies of Asia. It is also widely used in the international market for payments.
The circulation of the Baht began as early as the 13th century, making it one of the oldest currencies. Baht coins were produced of solid silver until the 19th century when the country adopted the decimal-based system of the current age.
The currency has been pegged against the British pound sterling in the 20th century. The currency was also pegged to the Japanese Yen as well as gold, but that was only for a short period. Thailand allowed its currency to float in the foreign exchange market following the Asian Financial Crisis of 1997. This resulted in a high exchange rate of the Baht into the USD. The current exchange rate of 1 USD goes to as high as 30 Baht.
CONVERT THAI BAHT TO RUPEE
If you are planning to visit Thailand, exchanging your home currency into the Baht is the best travel plan that you can make. Being handy with local currency helps in making payments at the local places without any hassle. If you want to exchange rupees into Baht, you should first opt for exchanging rupees into the US dollar. This will assure you a good exchange rate as compared to exchanging rupees directly to Baht. Then once you reach Thailand, you can convert the USD into Baht.
Selling Thai Baht in exchange for a rupee is also possible. You can know about the Thai Baht rate today in India from the various money exchanging platforms. To know the live rate follow the website of BookMyForex.
BUY/SELL THAI BAHT in INR with BookMyForex
You can easily purchase foreign currency in India with banks or local vendors. These are the conventional options along with airports, though not the best ones. Banks provide you with an exchange rate that includes high mark-ups which eventually reduces the amount you get from the exchange. So when you plan to buy/sell THB online, choose BookMyForex. We, as an online currency exchange & remittance platform, offer the best exchange rate that is free of any hidden charges. The only charge you pay with us for any foreign exchange is the Government tax.
Another issue with banks and local vendors is that they do not provide you with an updated rate. However, with BookMyForex, you get the most current exchange rate. You can even freeze a rate and exchange your currency on that rate within the next 3 days. Alternatively, you can set a notification alert for us to inform you when the exchange rate matches your requirement.
Frequently Asked Questions
Booking foreign currencies such as the Thai Baht is an easy process with BookMyForex. You can get the entire process done online without stepping out of your home. Begin by providing the name of the city that you are living in on our website. You will also need to provide your Forex requirements. Our portal will fetch the most competitive exchange rates available in your city. On selecting a vendor, you will be prompted to either opt for an in-person visit to the location or doorstep delivery. Make your choice and track the order right on our website until delivery.
When you are trying to buy or sell Thai Baht, you will be required to provide the Know Your Customer or KYC documents. The documents that are mandated by the Reserve Bank of India for foreign currency exchange includes an Indian passport, Visa, and Air ticket confirming that you will be traveling in the next 60 days. While Visa is not required when you get it on arrival, some exchangers may ask for your PAN Card depending on the guidelines they follow.
While Thailand accepts foreign currencies such as the USD, the scope of using them is restricted. So, the Thai Baht should be your currency of choice when traveling to Thailand. You can convert INR into USD in India as the price of Baht is very high here. You can get USD conversion with Bookmyforex.com at interbank rates at a 0.5% surcharge. You can exchange this USD in Thailand for Thai Baht for the same margin at 1% conversion charges.
Travelers visiting Thailand are allowed to carry a maximum of USD 20,000 to the country or an equivalent amount to this in INR. But in case you are carrying more than the said limit, then you are required to declare the same at the customs once you land in the country. It is important to note here that there is no limit on the amount that you can load into your Forex card. You can also use your debit or credit cards to overcome the limit. But making transactions with those cards can attract huge fees and additional expenses.
To send money from India to Thailand or anywhere abroad, one has to comply with FEMA’s outward remittances regulations. There is a limit to the amount of money that can be transferred. For any money transfers as a gift under LRS or Liberalization Remittance Scheme, investment in overseas companies, any kind of medical treatment or education expenses, the limit per year is USD 250,000. For self-declared gifts, it is USD 2000.
