India and Thailand’s relations date back to 1947, which was formed majorly through the common belief of Buddhism. Both countries are located in each other's extended neighbourhood and share bilateral trade relations. A large number of Indians are also living and working in Thailand. To add to this, one of the favourite budget-friendly international destinations for travel from India is Thailand. This indicates that a lot of currency is exchanged between the two countries. Read to find the conversion rate between INR and THB and how to convert INR to THB using a currency converter.
History of Thai Baht
The origin of the Thai Baht, the legal tender of Thailand, dates back to 1902. Before that, the country used a very complex monetary system that consisted of shells, baked clay coins and pot duang. Though banknotes were introduced in 1853, they didn't gain popularity. Though the government tried to reintroduce paper currency multiple times, they never were circulated due to inefficiency in managing them.
It was not until 1902 that the Department of Technology introduced the Thai Baht under the Ministry of Finance during the reign of King Chulalongkorn. Currently, the Thai Baht is issued in coins and banknotes. Coins of 1, 2, 5, and 10 and banknotes of 20, 50, 100, 500, and 1,000 are in circulation. Each Baht is further subdivided into 100 satangs.
By the 20th century, the Thai Baht rose to become Asia's one of most important currencies and is also one of the freely transferable currencies in Southeast Asia.
How to check the current exchange rate for Thailand Baht (THB) and Indian Rupees (INR)?
You can check the INR to THB exchange rate online on Google or on any currency converter, such as Jupiter Money. You can also convert INR to THB using the currency converter. The following steps will guide you through the conversion process.
- First, select the Thai Baht (THB) from the drop-down on the left-hand side of the screen.
- Next, enter the amount in INR that you wish you convert. The calculator will automatically display the amount in THB. For example, if you enter Rs 1 lakh in THB, the tool will automatically display THB 44,914.4 as the current exchange rate is 1 THB = 2.23 INR
You can also convert from THB to INR, by entering the amount in THB, to get its equivalent in INR.
Why is the Thai Baht stronger than the Indian Rupee?
Before we get to why the Thai Baht is a stronger currency, let's understand when a currency is weak or strong. If you have to spend more on buying a foreign currency, your domestic currency is weaker than the foreign one.
Although being a much smaller nation than India, Thailand’s currency is stronger than Indian Rupee. The main reason behind this is Thailand's exports. Thailand exports more than it imports, leading to a current account surplus. If a country exports more, that currency's value appreciates over time as its demand increases. In this case, since Thailand exports more, the demand for the Baht is more than its supply, hence the currency appreciated over time.
Another reason for the Thai Baht to become stronger is tourism. This island nation is popular for its beaches and scenic views attracting tourists from all over the world. High tourism contributes to economic growth and higher GDP (gross domestic product), strengthening the currency.
Low inflation and unemployment levels than India also make the Baht stable and stronger than the Indian Rupee.
All these reasons combined make the Thai Baht stronger than Indian Rupee.
INR to THB exchange rate history
Interesting facts about the Thai Baht
- Each Thai Baht has the face of the current king. Hence it is an offence to step on a coin or bank note.
- In Thailand, you will be frowned upon if you carry banknotes in your trouser pockets, as it implies you are sitting on the image of the king.
- The currency is made of special cotton, so each banknote has a different thickness. Moreover, they use a process called intaglio printing for currency notes which has a slightly raised print. Hence the Thai Baht bank notes have a very tactical feel compared to other currencies.
- If you visit small local shops in rural areas, you will find Thai Baht coins and small bank notes on display. People do that as respect towards their king.
Frequently Asked Questions
Is Indian Rupee accepted in Thailand?
No, Thailand doesn't accept Indian rupees. You have to convert your money before you plan to travel to Thailand. Alternatively, you can also convert the currency in Thailand.
How much money can I carry in cash from India to Thailand?
The minimum amount you must carry from India to Thailand is THB 20,000 per person and THB 40,000 per family. The max you can carry in cash is THB 50,000.
Is Thailand cheaper for India?
The cost of living in Thailand is higher than in India. Though the Thai Baht is only slightly higher than the Indian Rupee, the hotels are pretty costly in Thailand compared to India.
How much money can I carry from India to Bangkok?
The minimum amount you must carry from India to Bangkok is THB 20,000 per person and THB 40,000 per family. The maximum amount you can carry in cash is THB 50,000.
Which country's currency is THB?
The THB is the currency symbol of the Thai Baht, the official currency of Thailand.
Is Thailand Visa-free for India?
No, India is not a part of the visa-free countries of Thailand. You must apply for a visa before you travel to Thailand at the Thailand embassy. Alternatively, you can apply for a visa on arrival.
Which is the next preferred currency in Thailand after the Thai Baht?
The US dollar is the next preferred currency in Thailand after the Thai Baht. It is widely accepted all over the country.
Is it necessary to carry Thai Baht when landing in Thailand?
No, it isn’t necessary to carry Thai Baht when you enter Thailand. However, it is always convenient to carry a few Baht instead of exchanging it at the airport, which usually has very high exchange rates.
List of supported countries
Common currency conversion values at today’s exchange rate:
Commonly used currency terms are:
1 crore which has 7 zeroes - 1,00,00,000
1 Arab which has 9 zeroes - 1,00,00,00,000
1 Kharab which has 11 zeroes - 1,00,00,00,00,000
1 Neel which has 13 zeroes - 1,00,00,00,00,00,000
1 Padma which has 15 zeroes - 1,00,00,00,00,00,00,000
1 million which has 6 zeroes - 1,000,000 (Ten lakh in Indian common currency terms)
1 billion which has 9 zeroes - 1,000,000,000 (One Arab in Indian common currency terms)