- published: 23 Jun 2012
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The baht (Thai: บาท, sign: ฿; code: THB) is the currency of Thailand. It is subdivided into 100 satang (สตางค์). The issuance of currency is the responsibility of the Bank of Thailand.
According to SWIFT, as of October 2014, the Thai baht ranked as the tenth most frequently used world payment currency.
The Thai baht, like the pound, originated from a traditional unit of mass. Its currency value was originally expressed as that of silver of corresponding weight (now defined as 15 grams), and was in use probably as early as the Sukhothai period in the form of bullet coins known in Thai as phot duang (Thai: พดด้วง). These were pieces of solid silver cast to various weights corresponding to a traditional system of units related by simple fractions and multiples, one of which is the baht. These are listed in the following table:
That system was in use up until 1897, when the decimal system devised by Jayanta Mongkol, in which one baht = 100 satang, was introduced by king Chulalongkorn. However, coins denominated in the old units were issued until 1910, and the amount of 25 satang is still commonly referred to as a salueng, as is the 25-satang coin.
Coordinates: 15°24′N 101°18′E / 15.4°N 101.3°E / 15.4; 101.3
Thailand (/ˈtaɪlænd/ TY-land or /ˈtaɪlənd/ TY-lənd;Thai: ประเทศไทย, rtgs: Prathet Thai), officially the Kingdom of Thailand (Thai: ราชอาณาจักรไทย, rtgs: Ratcha-anachak Thai; IPA: [râːt.tɕʰá.ʔāː.nāː.tɕàk tʰāj]), formerly known as Siam (Thai: สยาม; rtgs: Sayam), is a country at the centre of the Indochinese peninsula in Mainland Southeast Asia. It is bordered to the north by Myanmar and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by the Andaman Sea and the southern extremity of Myanmar. Its maritime boundaries include Vietnam in the Gulf of Thailand to the southeast, and Indonesia and India on the Andaman Sea to the southwest.
Thailand is governed by the National Council for Peace and Order that took power in the May 2014 coup d'état.Its monarchy is headed by King Bhumibol Adulyadej, who has reigned since 1946 as Rama IX, as he is the ninth monarch of the Chakri Dynasty. He is currently the world's longest-serving head of state and the country's longest-reigning monarch; he has reigned for 7009219907440000000♠69 years, 250 days.