Thailand is a country which is known for its tourist destinations and attractions. Formerly Siam, this is a country of King and Queen, a country that is being run by constitutional monarchy. The king acts as the president of the country or the head of the state. He acts as the Defender of all Faiths. The country, being the world’s 50th largest country in the world has a very beautiful and attractive land that has contributed in the economic growth.
Thai baht or the Thai Onshore Baht is the monetary unit in this country. It is issued by the Bank of Thailand. The Symbol used for the Thai baht is THB. Originally, it was called Tical, a unit of weight used to determine the weight of Gold and Silver and was later on introduced as Baht. Baht is divided into 100 satang or Thai coins.
The first satang was made with cupronickel, nickel or bronze, depending on the value. Thai Baht bills were also introduced to slowly replace manufactured coins. It was issued in five faces. First is 20 baht, a green colored paper bill which was issued in March of 2003. The blue bill is another bill which was issued in October 2004. Third is the 100 baht which was issued October 2005. 500 baht was issued in August 2001.Lastly 1000 baht was issued in November 2005. All have the same Obverse, the H.M. King Bhumibol Adulyanej in the uniform of the Supreme Sommander of the Armed Forces.
As of today, the exchange rate of a Thai baht to USD is 0.03. Not bad for a country whose main source of income is the production of gems and jewelry. The export production has helped the country in their growing economy. Thailand, being the leader in gem productions, has trained its people in crafting, since this is one of their main sources of living. The country became known as one of the main producers of jewelry, comparable to Italy in terms of quality, design, and price.