Thai Baht was introduced by the country’s king in 1897. Between World War II and 1980, the Thai Baht was pegged at twenty Baht per one U.S dollar. However, the Asian currency crisis that began in July 1997 in Thailand resulted in the loss of confidence among global investors in Thailand. Consequently the Baht was placed on a floating rate of exchange. Recent statistics show that Thai Baht is Asia’s fourth best performing currency, and approximately seen trading at thirty-three Baht per one U.S dollar.

The Bank of Thailand, which was established in 1942, took the responsibility of the issuance of paper money, the fifty Baht notes, and introduced it for a brief time before withdrawing from the market. The present economic crisis around the world and in Thailand has seen the increasing usage of coins against the currency particularly the ten Baht coin, which is the highest denomination coin. This according to economists this is a sign of weakening economic growth.

In 2008, the Ministry of Finance in Thailand and the Royal Thai Mint announced the 2009 coin series that carried a more recent portrait of the King, and more importantly were made with aluminum bronze that made production of the coins cheaper than before. The recent additions to the coin series include the new two Baht coin, a Satang coin, and a five, ten and one Baht coins.

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