Are you about to book a Thailand Tour from India and confused about currency exchange? Prepare for a smooth financial experience by understanding how to exchange currency wisely. This guide helps you get the best value for your money, avoid common tourist traps, and manage your finances confidently during your Thailand trip.
This is a detailed article by TripFactory, based on the currency exchange guide covering how to get the best rates, where to exchange them, major problems tourists face, solutions, and so on.
Thailand Currency Exchange Guide for Indians
Thailand uses the Thai Baht (THB) as its official currency. People across Southeast Asia use this currency, and you can even spend it in nearby countries like Myanmar and Cambodia. The Bank of Thailand issues and regulates the Thai Baht. And code of Thailand currency is THB.
Common Problems You Should Always Avoid:
- Skip Unauthorized Vendors: You should always choose licensed exchange counters and avoid street vendors and suspicious shops.
- Avoid Expensive ATMs: Be sure to use ATMs that clearly show their charges and make fewer, larger withdrawals.
- Stay Informed: It’s always recommended to check the latest rates from reliable sources. Don’t rely on random recommendations.
Should currency be exchanged before I travel to Thailand?
Yes, we recommend exchanging some of your Indian Rupees for Thai Baht (THB) before you travel to Thailand. Doing this in advance usually helps you get better rates and ensures a smoother trip.
While you can exchange your currency upon arrival in Thailand, it can be beneficial to exchange your INR to THB in advance. Here are a few reasons why you should consider exchanging your INR to THB before your trip to Thailand.
- Better exchange rates: First is better exchange rates. If you plan your currency exchange well in advance, then it is possible for you to receive a better exchange rate.
- Convenience: Next, it is highly convenient. If you are planning to exchange your Inr for Thb, then it is a convenient option. You can go for convenient purchases and other important aspects related to the Thailand tour.
- Lower fees: Next, if you exchange your INR to THB in advance, you will incur fewer fees on your currency exchange.
How to get the best rates?
If you are planning to visit Thailand from India, then you will be amazed to know that there are not-so-good offerings in the foreign currency exchange sector. If you want to change your currency into Thai currency or if you are planning to get to Thailand for a tour or a business, make sure that you have Thai with you.
The Reserve Bank of India generally legalizes foreign currencies, so you need to go through all the general procedures. You need to check for the latest updates regarding Thai Baht.
You can get the best currency exchange rates from Thailand’s popular banks, such as the Bangkok Bank, Kasikorn Bank, SCB, and Krungthai Bank. All these banks offer a perfect exchange rate for your INR and provide you with the best Thai Baht exchange.
Follow These Tips for the Best Rates
- Track exchange rate trends before your trip.
- Avoid exchanging money at airports unless necessary.
- Use city-based exchange counters to get better rates.
- Keep all exchange receipts in case you need to reconvert leftover Baht.
Where to exchange currency in Thailand?
You can profitably arrange for the Thai baht from ATMs, banks, SuperRich Thailand, Vasu Exchange, Siam Exchange and TT Currency Exchange. They often provide competitive rates. These are easily available in important cities like Phuket, Bangkok and Chiang Mai.
Let us know about the major problems that tourists face while exchanging their currency in Thailand.
Major problems faced by tourists in currency exchange and solutions to it:
Unauthorized exchange points
First is exchanging currencies at street vendors or unauthorized exchange points.
If you are planning to visit Thailand, then see to it that you don’t exchange your currency at unauthorized exchange points or street vendors. This can lead to unnecessary chaos in your trip. Tourists have faced such issues in the past. They have been looted and scammed by such unauthorized exchange points. Select authorized currency exchange points only.
High charging ATMs
Next, you should not go for high-charging ATMs because such ATMs can charge you high prices for currency exchanges. Select ATMs with low charges.
Unauthorized currency exchange points
You should see to it that you always exchange your currency at recognized currency exchange points only. If you do not choose recognized currency exchange points, then this can create an unnecessary issue during your Thailand trip from India. There have been issues or problems in the past where tourists have suffered a lot due to selecting unauthorized currency exchange points.
Lack of information
Another great problem that a few tourists coming to Thailand face is that they do not have an adequate amount of information regarding Thai currency exchange. They believe anybody and everybody roaming out on the streets of Thailand. So, if you are planning to visit Thailand, then please make sure that you have an adequate amount of knowledge coming from reliable sources.
Wrapping Up
This article explains how to get the best currency exchange rates, find reliable exchange locations, and handle common challenges travellers face. It also provides practical solutions, making it especially helpful if you’re planning a holiday in Thailand.
