THB information
About the Thai Baht (THB)
What Is the Thai Baht (THB)?
The Thai Baht (THB), symbolized as ฿, is the official currency of the Kingdom of Thailand. The term "Baht" refers to both the currency itself and a unit of weight for gold, which is traditionally used in Thailand. The currency is divided into 100 smaller units known as satangs. The Thai Baht is the sole legal tender in Thailand, and it is used for all transactions within the country.
The Thai Baht is issued by the Bank of Thailand, which is the central bank of Thailand. The Bank of Thailand is responsible for the printing and minting of banknotes and coins, respectively, as well as for managing the country's monetary policy and maintaining the stability of the national currency. The Bank of Thailand was established in 1942 and has since been the sole authority for issuing the Thai Baht.
What Is the History of THB?
The baht, one of the oldest currencies, dates back to the 13th century. Originally based on a unit of mass (15 grams of silver), it transitioned to a decimal-based system in the late 19th century. The baht's value was once pegged to various currencies, including the British pound, Japanese yen, and the US dollar, before floating freely in the foreign exchange market post-1997 Asian Financial Crisis.
Notes and Coins of THB
Coins come in denominations of 1, 5, 10, 25, and 50 satangs, as well as ฿1, ฿2, ฿5, and ฿10. Banknotes are issued in denominations of ฿20, ฿50, ฿100, ฿500, and ฿1,000. Each banknote features a portrait of the country’s King, King Maha Vajiralongkorn, on the obverse side, and images of preceding rulers on the reverse.
Economic Significance
Despite political unrest, the Thai baht was one of the best-performing currencies in the forex market as of now. Thailand's economy, heavily reliant on exports (computers, electrical appliances, textiles, jewelry), fishing, agriculture, and tourism, accounts for about 66% of its GDP. The baht's strength reflects Thailand's economic growth, which, despite a slowdown post-1997, has significantly reduced poverty and elevated the country to an upper-middle-income status.
Exchange Rate and Value
Historically, the baht's value has seen significant shifts. For instance, during the 20th century, it fluctuated between 11 and 22 baht per British pound and was pegged at 20 baht = 1 USD in the mid-1950s, adjusting to 25 baht = 1 USD during the Reagan presidency. Post-1997 crisis, the USD/THB rate soared to 56 baht per USD, but as of 2024, it stabilized around 35 baht per USD.
Is THB Pegged to USD?
The Thai Baht (THB) is not pegged to the US Dollar (USD). Thailand adopted a floating exchange rate system for the Baht following the Asian Financial Crisis in 1997. Prior to this crisis, the Baht was pegged to the US Dollar, but the peg was abandoned in response to the financial pressures and economic conditions of the time.
Under the floating exchange rate system, the value of the Thai Baht is determined by market forces, primarily supply and demand dynamics in the foreign exchange market. This means that the Baht's exchange rate against the US Dollar and other currencies can fluctuate based on a variety of economic factors, including Thailand's economic performance, interest rates, inflation, and global economic conditions.
MEMEFI to THB conversion rate trend
Conversion rate comparison of various exchanges
Exchange | Price | Maker / Taker Fee | Tradable |
---|---|---|---|
BitgetBest | ฿0.01718 | 0.0200% / 0.0320%VIP 7 |
How to buy MemeFi
Buy MEMEFI (or USDT) for THB (Thai Baht) offers
Merchants (trades/completion rate) | Price | Amount/limit Low to high | Payment methods | Zero fees Action |
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Sell MEMEFI (or USDT) for THB (Thai Baht) offers
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What factors influence the conversion rate of MemeFi to Thai Baht?
MemeFi to Thai Baht is falling this week.Conversion tables
The exchange rate of MemeFi is increasing.MEMEFI to THB
THB to MEMEFI
Today vs. 24 hours ago
Amount | 15:35 today | 24 hours ago | 24h change |
---|---|---|---|
0.5 MEMEFI | $0.0002538 | $0.0001448 | +75.35% |
1 MEMEFI | $0.0005077 | $0.0002895 | +75.35% |
5 MEMEFI | $0.002538 | $0.001448 | +75.35% |
10 MEMEFI | $0.005077 | $0.002895 | +75.35% |
50 MEMEFI | $0.02538 | $0.01448 | +75.35% |
100 MEMEFI | $0.05077 | $0.02895 | +75.35% |
500 MEMEFI | $0.2538 | $0.1448 | +75.35% |
1000 MEMEFI | $0.5077 | $0.2895 | +75.35% |
Today vs. 1 month ago
Amount | 15:35 today | 1 month ago | 1M change |
---|---|---|---|
0.5 MEMEFI | $0.0002538 | $0.{4}6558 | +287.07% |
1 MEMEFI | $0.0005077 | $0.0001312 | +287.07% |
5 MEMEFI | $0.002538 | $0.0006558 | +287.07% |
10 MEMEFI | $0.005077 | $0.001312 | +287.07% |
50 MEMEFI | $0.02538 | $0.006558 | +287.07% |
100 MEMEFI | $0.05077 | $0.01312 | +287.07% |
500 MEMEFI | $0.2538 | $0.06558 | +287.07% |
1000 MEMEFI | $0.5077 | $0.1312 | +287.07% |
Today vs. 1 year ago
Amount | 15:35 today | 1 year ago | 1Y change |
---|---|---|---|
0.5 MEMEFI | $0.0002538 | $0.00 | +12.39% |
1 MEMEFI | $0.0005077 | $0.00 | +12.39% |
5 MEMEFI | $0.002538 | $0.00 | +12.39% |
10 MEMEFI | $0.005077 | $0.00 | +12.39% |
50 MEMEFI | $0.02538 | $0.00 | +12.39% |
100 MEMEFI | $0.05077 | $0.00 | +12.39% |
500 MEMEFI | $0.2538 | $0.00 | +12.39% |
1000 MEMEFI | $0.5077 | $0.00 | +12.39% |
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