Time Period: 1947-1965
Currency: Thai Baht
- Transition
- -
- Sub-units
- Baht / 64 Att (1860-1898)
Baht / 100 Satang (1898-)
- ISO4217
- THB
Timeline
- 1860-1863
- Start of issuance of modern ("flat") coinage:
- 17.09.1860: Royal decree on the issuance of silver coins of 2, 1, ½, ¼, ⅛, 1⁄16 Baht; effective immediately
- 25.08.1862: Royal decree on the issuance of tin subsidiary coins of 1, ½ Att (= ⅛, 1⁄16 Füang); effective immediately
- 29.10.1863: Rocal decree on the issuance of gold coins of 8, 4, 2½ Baht at a nominal rate of 1 Baht (gold) = 18 Baht (silver); effective immediately
- 14.12.1865: Royal decree on the issuance of copper subsidiary coins of 4, 2 Att (= ½, ¼ Füang); effective immediately.
- 1862-1904
- Withdrawal of the pre-coinage moneys:
- The use of cowrie snails as subsidiary coins was banned immediately upon issuance of the tin and copper subsidiary coinage.
- The use of porcelain gaming pieces as subsidiary coins was terminated during 1871.
- The round silver bullion pieces ("round money") were withdrawn and exchanged for silver content until October 1904.
- 01.08.1894
- Rating of foreign coins:
- Gold: 1 British Pound = 8 Thai Baht
- Silver: 3 Spanish Dollars = 5 Thai Baht, 7 Indian Rupees = 5 Thai Baht.
- 21.08.1898
- RS:21.08.117
- Proclamation of the Royal Treasury on the issuance of decimal subsidiary coins; effective immediately:
- 07.05.1909 [RS:07.05.128]: Demonetization of the non-decimal subsidiary coins.
- 18.05.1910 [RS:18.05.129]: Demonetization of the 1898 subsidiary coins (dated RS116).
- 29.06.1902
- RS:29.06.121
- Law [Notes Act] on the issuance of paper money by the Royal Treasury; effective immediately:
- Issuance of the notes (dated 01.04.1902 [RS:01.04.121]) began on 07.09.1902.
- 25.11.1902
- RS:25.11.121
- Ordinance [Royal Mint Amendment Act] on the abolition of free coinage of silver, corresponding to the abolition of the silver peg of the Baht: effective immediately:
- The Baht was fixed at 1 British Pound = 17 Thai Baht; on 19.12.1902, the rate was revised to 1 British Pound = 20 Thai Baht and subsequently adjusted to the silver price.
- On 06.02.1904, the rate was fixed to 3 Straits Dollars = 5 Thai Baht (or 1 British Pound = 16⅔ Thai Baht).
- On 17.11.1905, the rate was revised to 1 British Pound = 16 Thai Baht and subsequently adjusted to the silver price.
- 11.11.1908
- RS:11.11.127
- Law [Gold Standard Act] on the adoption of the gold standard; effective immediately
- 15.04.1928
- TH:15.04.2471
- Law [Currency Act B.E.2471] on the revision of the currency and restoration of the gold standard; effective immediately
- 10.12.1941
- TH:10.12.2484
- Law [Currency Emergency Act] on the monetary alignment with Japan; effective 31.01.1942:
- Exchange of Baht against British currency was banned, and the Japanese currency obtained legal tender status.
- A devaluation of the Baht to parity with the Japanese Yen was to be implemented in April 1942 (effected in June 1942).
- 16.12.1941
- TH:16.12.2484
- Law [Bank of Thailand Act B.E.2485] on the establishment of a central bank; effective upon constitution of the bank on 10.12.1942 [BE:10.12.2485]
- 07.02.1946
- Withdrawal of banknotes of 1000 Thai Baht that were issued under Japanese occupation and transformation into state loan
- 18.08.1958
- TH:18.08.2501
- Law [Currency Act B.E.2501] on the revision of the currency; effective immediately
Valuation Regimes
- 1850-1902
- Metallic currency based on circulating silver coins. Base weight was the Thai tical at 15.244 grams.
- 1902-1908
- Variable rate
- 1908-1942
- Fixed rate against British Pound; gold parity was suspended on ??.10.1919, restored on 15.04.1928, abandoned again on 11.05.1932
- 1942-1945
- Fixed rate against Japanese Yen
- 1945-1949
- Fixed rate against British Pound, from 07.09.1945 - 01.05.1946 no official exchange rate existed
- 1949-1956
- Fixed rate against US Dollar
- 1956-1963
- Variable rate, de facto peg to the US Dollar with a ±2% fluctuation margin
- 1963-1978
- Fixed rate against US Dollar
- 1978-
- Variable rate
Rate Arrangements
- 17.09.1860
- Metallic
- Baht: 13'719.60mg AG fine
- Baht at 1 Thai tical silver 0.900 fine
- 19.12.1902
- Variable
- initially: British Pound at 1 : 20
- -
- 11.11.1908
- Fixed
- British Pound at 1 : 13 - [Gold parity] 563.26mg AU fine
- -
- 15.04.1928
- Fixed
- British Pound at 1 : 11 - [Gold parity] 665.67mg AU fine
- +18.2%
- 31.01.1942
- Fixed
- Japanese Yen at 1 : 1.557
- ±0.0%
- 15.06.1942
- Fixed
- Japanese Yen at 1 : 1
- -35.8%
- 01.05.1946
- Fixed
- British Pound at 1 : 40
- -57.1%
- 26.09.1949
- Fixed
- US Dollar at 1 : 12.50
- -20.6%
- 01.01.1956
- Variable
- initially: US Dollar at 1 : 20.70
- -39.6%
- 20.10.1963
- Fixed
- US Dollar at 1 : 20.80 - [Gold parity] 42.73mg AU fine
- -
- 08.05.1972
- Fixed
- US Dollar at 1 : 20.80 - [Gold parity] 39.35mg AU fine
- ±0.0%
- 10.04.1973
- Fixed
- US Dollar at 1 : 20.80 - [Gold parity] 35.42mg AU fine
- ±0.0%
- 15.07.1973
- Fixed
- US Dollar at 1 : 20.00 - [Gold parity] 36.83mg AU fine
- +4.0%
- 08.03.1978
- Variable
- initially: US Dollar at 1 : 20.00
- ±0.0%
End-year Forex Rates (Units per US Dollar)
- Year
- Code
- Ratio
- Rate
- Delta
- Comment
- 1946
- THB
- 1
- 9.93
- ±0.0%
- fixed against GBP
- 1947
- THB
- 1
- 9.93
- ±0.0%
- fixed against GBP
- 1948
- THB
- 1
- 9.93
- ±0.0%
- fixed against GBP
- 1949
- THB
- 1
- 12.50
- -20.6%
- fixed against GBP
- 1950
- THB
- 1
- 12.50
- ±0.0%
- fixed against GBP
- 1951
- THB
- 1
- 12.50
- ±0.0%
- fixed against GBP
- 1952
- THB
- 1
- 12.50
- ±0.0%
- fixed against GBP
- 1953
- THB
- 1
- 12.50
- ±0.0%
- fixed against GBP
- 1954
- THB
- 1
- 12.50
- ±0.0%
- fixed against GBP
- 1955
- THB
- 1
- 12.50
- ±0.0%
- fixed against GBP
- 1956
- THB
- 1
- 20.80
- -39.9%
- 1957
- THB
- 1
- 20.80
- ±0.0%
- 1958
- THB
- 1
- 20.80
- ±0.0%
- 1959
- THB
- 1
- 20.80
- ±0.0%
- 1960
- THB
- 1
- 20.80
- ±0.0%
- 1961
- THB
- 1
- 20.80
- ±0.0%
- 1962
- THB
- 1
- 20.80
- ±0.0%
- 1963
- THB
- 1
- 20.80
- ±0.0%
- fixed against USD
- 1964
- THB
- 1
- 20.80
- ±0.0%
- fixed against USD
- 1965
- THB
- 1
- 20.80
- ±0.0%
- fixed against USD
- 1966
- THB
- 1
- 20.80
- ±0.0%
- fixed against USD
- 1967
- THB
- 1
- 20.80
- ±0.0%
- fixed against USD
- 1968
- THB
- 1
- 20.80
- ±0.0%
- fixed against USD
- 1969
- THB
- 1
- 20.80
- ±0.0%
- fixed against USD
- 1970
- THB
- 1
- 20.80
- ±0.0%
- fixed against USD
- 1971
- THB
- 1
- 20.80
- ±0.0%
- fixed against USD
- 1972
- THB
- 1
- 20.80
- ±0.0%
- fixed against USD
- 1973
- THB
- 1
- 20.00
- +4.0%
- 1974
- THB
- 1
- 20.00
- ±0.0%
- 1975
- THB
- 1
- 20.00
- ±0.0%
- 1976
- THB
- 1
- 20.00
- ±0.0%
- 1977
- THB
- 1
- 20.00
- ±0.0%
- 1978
- THB
- 1
- 19.48
- +2.7%
- 1979
- THB
- 1
- 21.17
- -8.0%
- 1980
- THB
- 1
- 20.49
- +3.3%
- 1981
- THB
- 1
- 22.99
- -10.9%
- 1982
- THB
- 1
- 22.99
- 0.0%
- 1983
- THB
- 1
- 23.24
- -1.1%
- 1984
- THB
- 1
- 27.07
- -14.1%
- 1985
- THB
- 1
- 26.66
- +1.5%
- 1986
- THB
- 1
- 26.13
- +2.0%
- 1987
- THB
- 1
- 25.38
- +2.9%
- 1988
- THB
- 1
- 25.89
- -2.0%
- 1989
- THB
- 1
- 25.04
- +3.4%
- 1990
- THB
- 1
- 25.16
- -0.5%
- 1991
- THB
- 1
- 23.57
- +6.8%
- 1992
- THB
- 1
- 25.50
- -7.6%
- 1993
- THB
- 1
- 25.40
- +0.4%
- 1994
- THB
- 1
- 25.10
- +1.2%
- 1995
- THB
- 1
- 25.20
- -0.4%
- 1996
- THB
- 1
- 25.60
- -1.6%
- 1997
- THB
- 1
- 47.40
- -46.0%
- 1998
- THB
- 1
- 36.56
- +29.6%
- 1999
- THB
- 1
- 37.44
- -2.3%
- 2000
- THB
- 1
- 43.40
- -13.7%
- 2001
- THB
- 1
- 44.21
- -1.8%
- 2002
- THB
- 1
- 43.29
- +2.1%
- 2003
- THB
- 1
- 39.62
- +9.3%
- 2004
- THB
- 1
- 39.02
- +1.5%
- 2005
- THB
- 1
- 41.08
- -5.0%
- 2006
- THB
- 1
- 36.15
- +13.7%
- 2007
- THB
- 1
- 33.69
- +7.3%
- 2008
- THB
- 1
- 34.81
- -3.2%
- 2009
- THB
- 1
- 33.37
- +4.3%
- 2010
- THB
- 1
- 30.15
- +10.7%
- 2011
- THB
- 1
- 31.69
- -4.9%
- 2012
- THB
- 1
- 30.63
- +3.5%
- 2013
- THB
- 1
- 32.81
- -6.6%
- 2014
- THB
- 1
- 32.96
- -0.5%
- 2015
- THB
- 1
- 36.09
- -8.7%
- 2016
- THB
- 1
- 35.83
- +0.7%
- 2017
- THB
- 1
- 32.68
- +9.6%
- 2018
- THB
- 1
- 32.45
- +0.7%
- 2019
- THB
- 1
- 30.15
- +7.6%
- 2020
- THB
- 1
- 30.04
- +0.4%
- 2021
- THB
- 1
- 33.42
- -10.1%
- 2022
- THB
- 1
- 34.56
- -3.3%
- 2023
- THB
- 1
- 34.22
- +1.0%