Editing Thai baht (section)

== History ==
{{main|History of Thai money}} {{see also|Tical (unit)}}
{{Infobox currency
| currency_name = Siamese tical<br>{{small|(Predecimal Thai baht)}}
| image_1 = Coin Museum Thailand by Trisorn Triboon 64.jpg
| image_title_1 = Predecimal bullet coin issued by Rama III
| image_2 = 1876_1_Baht_O.png
| image_title_2 = Predecimal tical coin issued by Rama V
| plural = ticals (baht)
| symbol_comment = None official. The abbreviations Tcs, Tcl, 圓, or 銖 were used.
| superunit_ratio_1 = 80
| superunit_name_1 = chang
| superunit_ratio_2 = 4
| superunit_name_2 = tamlueng
| subunit_ratio_1 = {{frac|1|8}}
| subunit_name_1 = fueang
| subunit_ratio_2 = {{frac|1|64}}
| subunit_name_2 = at
| symbol_subunit_1 = F or 方
| banknote_article = Banknotes of the Thai baht
| coin_article = Thai baht#Coins
| frequently_used_banknotes = {{cslist|1 Tcs|5 Tcs}}
| rarely_used_banknotes = {{cslist|{{frac|1|8}} Tcs|{{frac|1|4}} Tcs|{{frac|3|8}} Tcs|{{frac|1|2}} Tcs|{{frac|5|8}} Tcs|{{frac|3|4}} Tcs|{{frac|7|8}} Tcs|8 Tcs|10 Tcs|12 Tcs|16 Tcs|20 Tcs|24 Tcs|28 Tcs|32 Tcs|40 Tcs|48 Tcs|60 Tcs|80 Tcs|100 Tcs|140 Tcs|400 Tcs|800 Tcs|1000 Tcs}}
| frequently_used_coins = {{cslist|{{frac|1|16}} F|{{frac|1|8}} F|{{frac|1|4}} F|{{frac|1|2}} F|1 F|{{frac|1|4}} Tcs|{{frac|1|2}} Tcs|1 Tcs|2.5 Tcs|4 Tcs|8 Tcs}}
| date_of_introduction = {{end date and age|1238}}
| date_of_withdrawal = {{end date and age|1910}}
| using_countries = {{flag|Rattanakosin Kingdom|name=Siam}}
| issuing_authority = Siamese government
| printer = see {{slink|#Predecimal banknotes}}
| mint = [[Royal Thai Mint]]
| pegged_with = [[Pound sterling]] (from 1908)<br>(13 baht per pound)
| obsolete = yes
| obsolete_notice = yes
}}<timeline>
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 from:1251 till:1400 color:o text:"[[Thai baht#Sukhothai and Ayutthaya photduang|Sukhothai Issue 1]]"
 from:1351 till:1767 color:o text:"[[Thai baht#Sukhothai and Ayutthaya photduang|Ayutthaya Issue 2]]"
 from:1767 till:1782 color:o text:"[[Thai baht#Thonburi and Rattanakosin photduang|Thonburi Issue 3]]"
 from:1782 till:1809 color:o text:"[[Thai baht#Thonburi and Rattanakosin photduang|Rattanakosin Issue 4 (Rama I)]]"
 from:1809 till:1824 color:o text:"[[Thai baht#Thonburi and Rattanakosin photduang|Rattanakosin Issue 5 (Rama II)]]"
 from:1824 till:1851 color:o text:"[[Thai baht#Thonburi and Rattanakosin photduang|Rattanakosin Issue 6 (Rama III)]]"
 from:1851 till:1870 color:o text:"[[Thai baht#Thonburi and Rattanakosin photduang|Rattanakosin Issue 7 (Rama IV)]]"

 from:1856 till:1862 color:p text:"[[Thai baht#Coin timeline|vvv Flat coin issues vvv]]"
 from:1856 till:1862 color:p text:"[[Thai baht#Issue 1 – 1856 (transitional)|Issue 1 (Rama IV, transitional)]]"
 from:1860 till:1910 color:r text:"[[Thai baht#Issue 2 – 1860|Issue 2 (Rama IV)]]"
 from:1869 till:1910 color:r text:"[[Thai baht#Issue 3 – 1869|Issue 3 (Rama IV)]]"
 from:1875 till:1910 color:r text:"[[Thai baht#Issue 4 – 1875|Issue 4 (Rama V)]]"
 from:1888 till:1910 color:r text:"[[Thai baht#Issue 5 – 1888|Issue 5 (Rama V)]]"
 from:1897 till:1902 color:p text:"[[Thai baht#Issue 6 – 1897 (transitional)|Issue 6 (Rama V, transitional)]]"
 from:1908 till:1937 color:b text:"[[Thai baht#Issue 7 – 1908, 1913, 1929, 1939|Issue 7 (Rama V, VI, VII, VIII)]]"
 from:1910 till:1937 color:b text:"[[Thai baht#Issue 8 – 1913|Issue 8 (Rama VI)]]"
 from:1929 till:1937 color:b text:"[[Thai baht#Issue 9 – 1929|Issue 9 (Rama VII)]]"
 from:1937 till:1946 color:b text:"[[Thai baht#Issue 10 – 1937, 1941, 1942, 1945|Issue 10 (Rama VIII)]]"
 from:1946 till:1950 color:b text:"[[Thai baht#Issue 11 – 1946|Issue 11 (Rama VIII)]]"
 from:1950 till:1972 color:b text:"[[Thai baht#Issue 12 – 1950|Issue 12 (Rama IX)]]"
 from:1972 till:1977 color:b text:"[[Thai baht#Issue 13 – 1972|Issue 13 (Rama IX)]]"
 from:1977 till:1982 color:b text:"[[Thai baht#Issue 14 – 1977|Issue 14 (Rama IX)]]"
 from:1982 till:1987 color:b text:"[[Thai baht#Issue 15 – 1982|Issue 15 (Rama IX)]]"
 from:1987 till:2024 color:b text:"[[Thai baht#Issue 16 – 1987, 1988, 2005, 2008|Issue 16-1 (Rama IX)]]"
 from:2009 till:2024 color:b text:"[[Thai baht#Issue 16 – 2009|Issue 16-2 (Rama IX)]]"
 from:2018 till:2024 color:b text:"[[Thai baht#Issue 17 – 2018|Issue 17 (Rama X)]]"

 from:1853 till: 1863 color:r text:"[[Thai baht#1851–1868, Rama IV era banknotes|vvv Banknotes vvv]]"

 from:1853 till: 1902 color:r text:"[[Thai baht#1851–1868, Rama IV era banknotes|Mai Series (Rama IV)]]"
 from:1856 till: 1902 color:r text:"[[Thai baht#1851–1868, Rama IV era banknotes|Bai Phraratchathan Ngoentra Series (Rama IV)]]"
 from:1892 till: 1902 color:r text:"[[Thai baht#Royal Treasury banknotes|Royal Treasury Series (Rama V)]]"
 from:1889 till: 1902 color:r text:"[[Thai baht#Hong Kong and Shanghai Banking Corporation (HSBC) banknotes|Hong Kong and Shanghai Banking Corporation Series (Rama V)]]"
 from:1884 till: 1902 color:r text:"[[Thai baht#Chartered Bank of India, Australia, and China banknotes|Chartered Bank of India, Australia, and China Series (Rama V)]]"
 from:1886 till: 1902 color:r text:"[[Thai baht#Banque de L'Indo-Chine banknotes|Banque de L'Indo-Chine Banknotes Series (Rama V)]]"

 from:1902 till: 1925 color:b text:"[[Thai baht#Series 1|Series 1 (Rama V, Rama VI)]]"
 from:1925 till: 1934 color:b text:"[[Thai baht#Series 2|Series 2 (Rama VI, Rama VII)]]"
 from:1934 till: 1937 color:b text:"[[Thai baht#Series 3 Type 1|Series 3-1 (Rama VII)]]"
 from:1935 till: 1937 color:b text:"[[Thai baht#Series 3 Type 2|Series 3-2 (Rama VIII)]]"
 from:1937 till: 1942 color:b text:"[[Thai baht#Series 4 Type 1|Series 4-1 (Rama VIII)]]"
 from:1942 till: 1942 color:b text:"[[Thai baht#Series 4 Type 2|Series 4-2 (Rama VIII)]]"
 from:1942 till: 1945 color:b text:"[[Thai baht#Series 5|Series 5 (Rama VIII)]]"
 from:1945 till: 1945 color:b text:"[[Thai baht#Series 6|Series 6 (Rama VIII)]]"
 from:1945 till: 1945 color:b text:"[[Thai baht#Series 7|Series 7 (Rama VIII)]]"
 from:1945 till: 1948 color:b text:"[[Thai baht#Series 8|Series 8 (Rama VIII)]]"
 from:1948 till: 1968 color:b text:"[[Thai baht#Series 9|Series 9-1 (Rama IX)]]"
 from:1955 till: 1968 color:b text:"[[Thai baht#Series 9|Series 9-2 (Rama IX)]]"
 from:1968 till: 1969 color:b text:"[[Thai baht#Series 10|Series 10 (Rama IX)]]"
 from:1969 till: 1978 color:b text:"[[Thai baht#Series 11|Series 11 (Rama IX)]]"
 from:1978 till: 2003 color:b text:"[[Thai baht#Series 12 and 13|Series 12 (Rama IX)]]"
 from:1985 till: 2003 color:b text:"[[Thai baht#Series 12 and 13|Series 13 (Rama IX)]]"
 from:1994 till: 2024 color:b text:"[[Thai baht#Series 14|Series 14 (Rama IX)]]"
 from:2003 till: 2024 color:b text:"[[Thai baht#Series 15|Series 15 (Rama IX)]]"
 from:2013 till: 2024 color:b text:"[[Thai baht#Series 16|Series 16-1 (Rama IX)]]"
 from:2017 till: 2024 color:b text:"[[Thai baht#Series 16|Series 16-2 (Rama IX)]]"
 from:2018 till: 2024 color:b text:"[[Thai baht#Series 17|Series 17 (Rama X)]]"
 barset:skip
</timeline>The Thai baht, like the [[Pound (currency)|pound]], originated from a traditional unit of [[mass]]. Its currency value was originally expressed as that of [[silver]] of corresponding weight (now defined as 15 grams), and was in use probably as early as the [[Sukhothai Kingdom|Sukhothai]] period in the form of [[Bullet money|bullet coins]] known in Thai as ''[[bullet money|photduang]]''.<ref>{{cite web |title=Thailand Commemorative Bullet Coins (112) |url=https://coincoin.com/I112.htm |website=Scott Semans World Coins |access-date=25 October 2018 |archive-url=https://web.archive.org/web/20171111111216/http://www.coincoin.com/I112.htm |archive-date=11 November 2017 |url-status=dead }}</ref> These were pieces of solid silver cast to various weights corresponding to a [[Thai units of measurement|traditional system of units]] related by simple fractions and multiples, one of which is the ''[[baht (unit)|baht]]''. These are listed in the following table:<ref>{{cite web |url=http://www.chiangmai-chiangrai.com/siamese_money.html |title= The History of Siamese Money |access-date=2018-10-25|date=2010-06-16|website= Welcome to Chiangmai & Chiangrai |archive-url  = https://web.archive.org/web/20110928105132/http://www.chiangmai-chiangrai.com/siamese_money.html |archive-date = September 28, 2011 |url-status= dead |df= mdy-all}}</ref><ref>{{cite web |script-title=th:เหรียญกษาปณ์ของไทย |trans-title=Coins of Thailand |url=http://www1.mod.go.th/heritage/nation/krasab/index1.htm |website=Ministry of Defense of Thailand |access-date=15 October 2011 |language=th |archive-url=https://web.archive.org/web/20120204133229/http://www1.mod.go.th/heritage/nation/krasab/index1.htm |archive-date=2012-02-04 |url-status=dead }}</ref> Though the coins themselves have names like: ''solot'', ''siao'','' sik'', etc, the formal division of the Thai baht (tical) is 1 baht = 8 ''fueang'' = 64 ''at''. This means that ''one baht'' is divided into ''eight fueang'', and each ''one fueang'' is divided into ''8 at''. Currently, the Thai baht do not employ the ''at'' as a subunit, but the ''at'' is the current subunit of the [[Lao kip]].

{| class="wikitable" style="width:50%; text-align: center"
! rowspan=2| Unit ([[Royal Thai General System of Transcription|RTGS]])
! rowspan=2 | Thai spelling
! rowspan=2| Relative value
! colspan=2| Value relative to
! rowspan=2| Notes
|-
! Baht
! Satang
|-
| {{lang|th-Latn|Bia|italic=no}}
| {{lang|th|เบี้ย}}
| {{Fraction|1|100}} {{lang|th-Latn|at}}
| {{Fraction|1|6400}}
| 0.0156
| {{lang|th-Latn|Bia}} is Thai for [[cowry]], the shell of which was used as a trade medium of the same value.
|-
| {{lang|th-Latn|Solot|italic=no}}
| {{lang|th|โสฬส}}
| {{Fraction|1|16}} {{lang|th-Latn|fueang}}
| {{Fraction|1|128}}
| 0.78
| {{lang|th-Latn|Solot}} here literally means ''sixteen'' or ''sixteenth'', referring to the fractional amount relative to a {{lang|th-Latn|fueang}}.
|-
| {{lang|th-Latn|At|italic=no}}
| {{lang|th|อัฐ}}
| {{Fraction|1|8}} {{lang|th-Latn|fueang}}
| {{Fraction|1|64}}
| 1.56
| Likewise, {{lang|th-Latn|at}} means ''eight''.
|-
| {{lang|th-Latn|Siao|italic=no}}/{{lang|th-Latn|Phai|italic=no}}
| {{lang|th|เสี้ยว}}/{{lang|th|ไพ}}
| {{Fraction|1|4}} {{lang|th-Latn|fueang}}
| {{Fraction|1|32}}
| 3.125
| {{lang|th-Latn|Siao}} means ''quarter''.
|-
| {{lang|th-Latn|Sik|italic=no}}
| {{lang|th|ซีก}}
| {{Fraction|1|2}} {{lang|th-Latn|fueang}}
| {{Fraction|1|16}}
| 6.25
| {{lang|th-Latn|Sik}} means ''half''.
|-
| {{lang|th-Latn|Fueang|italic=no}}
| {{lang|th|เฟื้อง}}
| {{Fraction|1|8}} baht
| {{Fraction|1|8}}
| 12.5
| The smallest silver bullet coins available in the market.
|-
| {{lang|th-Latn|Salueng|italic=no}}
| {{lang|th|สลึง}}
| {{Fraction|1|4}} baht (0.25 baht, 25 {{lang|th-Latn|satang}})
| {{Fraction|1|4}}
| 25
| Thai version of the [[mace (unit)|mace]]. It is also the equivalent of the Cambodian salong, and Burmese pya.
|-
| Baht
| {{lang|th|บาท}}
| 
| 1
| 100
| It is also the equivalent of the [[Cambodian tical|Cambodian baat]], and [[Myanmar kyat|Burmese kyat]]. Its alternative name is the [[Tical (unit)|tical]].
|-
| {{lang|th-Latn|Tamlueng|italic=no}}
| {{lang|th|ตำลึง}}
| 4 baht
| 4
| 400
| Thai version of the [[tael]].
|-
| {{lang|th-Latn|Chang|italic=no}}
| {{lang|th|ชั่ง}}
| 20 {{lang|th-Latn|tamlueng}}
| 80
| 8000
| Thai version of the [[catty]].
|-
| {{lang|th-Latn|Hap|italic=no}}
| {{lang|th|หาบ}}
| 80 {{lang|th-Latn|chang}}
| 6400
| 640000
| 
|}
[[File:Siamese Pre-Decimal Tical System.png|thumb|594x594px|Siamese predecimal tical system]]
This predecimal system was in use up until 1897, when the decimal system devised by Prince [[Jayanta Mongkol]], in which one baht = 100 satang, was introduced by his half-brother King [[Chulalongkorn]] along with the demonetization of silver bullet coins on 28 October 1904 after the end of silver bullet coin production by the opening of Sitthikarn Royal Mint in 1857.<ref>{{cite web |script-title=th:เงินตรา |trans-title=Money |url=http://www.royalthaimint.net/ewtadmin/ewt/mint_web/ewt_news.php?nid=46&filename=index |publisher=Royal Thai Mint |access-date=22 November 2020 |language=th |archive-date=4 March 2016 |archive-url=https://web.archive.org/web/20160304103729/http://www.royalthaimint.net/ewtadmin/ewt/mint_web/ewt_news.php?nid=46&filename=index |url-status=live }}</ref> However, coins denominated in the old units were issued until 1910, and the amount of 25 satang is still commonly referred to as a {{lang|th-Latn|salueng}}, as is the 25-satang coin.

Until 27 November 1902, the baht was fixed on a purely silver basis, with 15&nbsp;grams of silver to the baht. This caused the value of the currency to vary relative to currencies on a [[gold standard]]. From 1856 to 1864, the values of certain foreign silver coins were fixed by law, with 5 baht = 3 [[Spanish dollar]] = 7 [[Indian rupee]]s.<ref name=":9">{{cite web |script-title=th:รัชกาลที่ 4 รับสั่งทำ "เหรียญกระษาปณ์" รับมือการค้ากับต่างชาติ |trans-title=King Mongkut ordered the production of western style coins as the response to the rising trades with foreigners|url=https://www.silpa-mag.com/history/article_29937|website=Silpa Watthanatham Magazine|date=27 March 2019|access-date=22 November 2020|language=th|archive-date=21 November 2020|archive-url=https://web.archive.org/web/20201121204620/https://www.silpa-mag.com/history/article_29937|url-status=live}}</ref> Before 1880 the exchange rate was fixed at 8 baht per [[pound sterling]], falling to 10 to the pound during the 1880s.

In 1902, the government began to increase the value of the baht by following all increases in the value of silver against gold but not reducing it when the silver price fell. Beginning at 21.75 baht per [[pound sterling]], the currency rose in value until, in 1908, a fixed peg to the British pound sterling was established of 13 baht per pound. This was revised to 12 baht in 1919 and then, after a period of instability, to 11 baht in 1923. During [[World War II]], the baht was fixed at a value of one [[Japanese yen]] on 22 April 1942.<ref>{{cite web |script-title=th:กฎกระทรวงการคลัง ออกตามความในพระราชบัญญัติ เงินตราในภาวะฉุกเฉิน พุทธศักราช 2484 (ฉะบับที่ 3) |trans-title=Ministry of Finance Regulation issued according to Currency during the Emergency Situation of BE 2484 (Issue No. 3) 
|url=https://dl.parliament.go.th/handle/lirt/237846 |archive-url=https://web.archive.org/web/20211024193720/https://dl.parliament.go.th/handle/lirt/237846 |url-status=dead |archive-date=October 24, 2021 |website=Legislative Institutional Repository of Thailand |access-date=22 November 2020 |language=th }}</ref><ref>{{cite web |title=The Currency Before and During the War by Prince Vivadhanajaya 21 July BE 2488 (1945) |url=https://vajirayana.org/%E0%B8%A7%E0%B8%B4%E0%B8%A7%E0%B8%B1%E0%B8%92%E0%B8%99%E0%B9%84%E0%B8%8A%E0%B8%A2%E0%B8%B2%E0%B8%99%E0%B8%B8%E0%B8%AA%E0%B8%A3%E0%B8%93%E0%B9%8C/%E0%B8%A3%E0%B8%B0%E0%B8%9A%E0%B8%9A%E0%B9%80%E0%B8%87%E0%B8%B4%E0%B8%99%E0%B8%95%E0%B8%A3%E0%B8%B2/currency-and-during-war |website={{lang|th|วชิรญาณ}} |access-date=23 November 2020 |language=en |archive-date=30 November 2020 |archive-url=https://web.archive.org/web/20201130033417/https://vajirayana.org/%E0%B8%A7%E0%B8%B4%E0%B8%A7%E0%B8%B1%E0%B8%92%E0%B8%99%E0%B9%84%E0%B8%8A%E0%B8%A2%E0%B8%B2%E0%B8%99%E0%B8%B8%E0%B8%AA%E0%B8%A3%E0%B8%93%E0%B9%8C/%E0%B8%A3%E0%B8%B0%E0%B8%9A%E0%B8%9A%E0%B9%80%E0%B8%87%E0%B8%B4%E0%B8%99%E0%B8%95%E0%B8%A3%E0%B8%B2/currency-and-during-war |url-status=live }}</ref>

From 1956 until 1973, the baht was pegged to the [[US dollar]] at an exchange rate of 20.8 baht = one dollar and at 20 baht = 1 dollar until 1978.<ref>{{cite journal |script-title=th:จากระบบอัตราแลกเปลี่ยนอิงตะกร้าเงินสู่ระบบอัตราแลกเปลี่ยนลอยตัว |trans-title=From Monetary FOREX system to floating FOREX |journal={{lang|th|เศรษฐสาร}} |volume=11 |issue=7 (July) |orig-date=BE 2540 |date=1997 |url=http://www.econ.tu.ac.th/oldweb/doc/article/fulltext/81.pdf |url-status=live |archive-url=https://web.archive.org/web/20200307010248/http://www.econ.tu.ac.th/oldweb/doc/article/fulltext/81.pdf |archive-date=7 March 2020 |access-date=28 May 2012 |language=th }}</ref>
<ref>{{cite web |url=http://info.gotomanager.com/news/details.aspx?id=9460 |script-title=th:ลดค่าเงินบาทในภาษาที่ทุกคนเข้าใจ โดย เสรี ทรัพย์เจริญ นิตยสารผู้จัดการ พฤศจิกายน 2527 |language=th |access-date=22 November 2020 |archive-date=25 December 2015 |archive-url=https://web.archive.org/web/20151225104336/http://info.gotomanager.com/news/details.aspx?id=9460 |url-status=dead }}</ref> A strengthening US economy caused Thailand to re-peg its currency at 25 to the dollar from 1984 until 2 July 1997, when the country was affected by the [[1997 Asian financial crisis]]. The baht was [[floating exchange rate|floated]] and halved in value, reaching its lowest rate of 56 to the dollar in January 1998. It rose to 30 per dollar in January 2021.

The baht was originally known to foreigners by the term ''tical'',<ref name="JSS_033_2c_Campos">{{cite journal |last=de Campos |first=J. J. |year=1941 |title=The Origin of the Tical |journal=[[Journal of the Siam Society]] |volume=33.2c |publisher=Siam Heritage Trust |url=http://www.siamese-heritage.org/jsspdf/1941/JSS_033_2c_Campos_OriginOfTical.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.siamese-heritage.org/jsspdf/1941/JSS_033_2c_Campos_OriginOfTical.pdf |archive-date=2022-10-09 |url-status=live |access-date= June 23, 2013 |quote=From the earliest times in Southern Burma, the weight adopted were not the Chinese ''liang'' or ''tael'' or its variants, but the Indian ''bahur'' and the ''[[viss]]'', the latter being divided into 100 ticals. It is this Burmese ''tical'', which was and continues to be in Burma the designation of a definite weight of uncoined silver or its compound, that throws light on the problem of the Thai ''tical''. }}</ref> which was used in [[English language]] text on banknotes until the series 2 1925.<ref>{{cite web |url=http://www.bot.or.th/English/Banknotes/HistoryANdSeriesOfBanknotes/Pages/Banknote_Series01.aspx |title=Banknotes, Series 1 |date=23 February 2012 |website=[[Bank of Thailand]] |access-date=9 May 2012 |quote=each denomination had many types which were printed by Thomas De La Rue & Company Limited, England. |archive-date=4 April 2016 |archive-url=https://web.archive.org/web/20160404015111/https://www.bot.or.th/English/Banknotes/HistoryAndSeriesOfBanknotes/Pages/Banknote_Series01.aspx |url-status=dead }}</ref><ref>{{cite web |url=http://www.bot.or.th/English/Banknotes/HistoryANdSeriesOfBanknotes/Pages/Banknote_Series02.aspx |title=Banknotes, Series 2 |date=22 November 2020 |website=[[Bank of Thailand]] |access-date=22 November 2020 |archive-date=4 July 2012 |archive-url=https://web.archive.org/web/20120704102039/http://www.bot.or.th/English/Banknotes/HistoryANdSeriesOfBanknotes/Pages/Banknote_Series02.aspx |url-status=dead }}</ref>