The baht (thai baht) is the official currency of Thailand, a country with a monarchy led by King Maha Vajiralongkorn (Rama X) and with its capital in Bangkok. Its ISO 4217 code is in THB and its symbol is ฿.
The Thai baht is divided into 100 satang and is issued by the Bank of Thailand. As of Feb. 2023, the baht currency equivalent to the euro is:
- 1 euro = 36,07 baht.
- 1 baht = 0,028 euros.
History of the Thai baht
The origin of the baht as the official currency of the Kingdom of Thailand dates back to the 19th century, when the baht was a commonly used unit of weight in the country. Baht coins were minted in silver and gold and were denominated according to their weight in baht.
Since 1897, the decimalization of the baht began in 100 satang, which is maintained to this day. Only during World War II did the baht set its value against the Japanese yen.
From 1956 to 1973, the baht aligned its rate with that of the US dollar. Until 1997 the exchange rate was set at THB 25 per dollar. In January 1998, this proportion fell to its lowest value, with THB 56 per dollar, and since then the ratio of both parities has gradually increased to around THB 34 per dollar.
Thai baht coins
The Bank of Thailand (BOT) is in charge of issuing the currency of Thailand.
It was created in 1939 as the first financial entity in the country and its activity then consisted of the commercialization of Thai Treasury obligations, the financing of public investments and the regulation and banking exchange with the official entities of the country.
The Thai baht coins currently in circulation are from the new series issued in 2009 in which the portrait of King Rama IX was updated. The 2 baht coin changed its usual alloy for a cheaper one of bronze and aluminum. Currently the coins that exist are 25 Satang, 50 Satang, 1 baht, 2 baht, 5 baht and 10 baht.
The counter value in euros of all these coins is negligible, keep that in mind.
Thai baht banknotes
The baht bill system has been unchanged since 1988 with the following bill denominations: 20, 50, 100, 500 and 1000 Baht.
The Thai baht banknotes currently circulating in the country are from various series issued between 2005 and 2018. The main distinctive sign of the last series, 17, is that they bear the effigy of the current King Rama X on the obverse, wearing the uniform of the Thai Air Force. The reverse side shows, two by two, the effigies of the predecessors of the current King, all from the Rama dynasty.
20 baht banknote
Green banknote with the portrait of King Rama X on the obverse and Kings Phra Buddha Yodfa Chulalok (Rama I) and Phra Buddha Lertla Naphalai (Rama II) on the reverse. In exchange, this ticket would be equivalent to about 45 euro cents in Portugal, summer 2021.
50 baht banknote
Blue banknote with the portrait of King Rama X dressed in the uniform of the country’s air force on the obverse and that of Kings Nang Klao (Rama III) and Mongkut (Rama IV) on the reverse. In exchange, this ticket would be equivalent to about 1.12 euros in Portugal, July 2021.
100 baht banknote
Reddish banknote with the portrait of King Rama X in military dress on the obverse and the portraits of the kings Chulalongkorn
(Rama V) and Vajiravudh (Rama VI) on the reverse. In exchange, this ticket would be equivalent to about 2.25 euros in Portugal in July 2021.
500 baht banknote
Violet banknote with the portrait of King Rama X dressed in military uniform on the obverse. The reverse bears the portraits of kings Prajadhipok (Rama VII) and Ananda Mahidol (Rama VIII). At the exchange, this ticket would be equivalent to between 12 euros depending on where you change, in Portugal, July 2021.
1000 baht banknote
Grey/blue banknote with the portrait of King Rama X on the obverse dressed in military uniform and of himself together with King Bhumibol Adulyadej (King Rama IX). Its issue date is July 28, 2018.
At the exchange rate, this ticket would be equivalent to between 24 and 26 euros in July 2021 in cheap currency suppliers in Portugal.
Euro to thai baht exchange rate
If you search Google for “euro-thai baht exchange” you will find dozens of websites (“currency converters”) that offer a “rate” of the day. You will also see this chart with the rates of that currency pair from Google Finance. Something like this (July 6, 2021):
As you can see, the change in the last five years the exchange rate is gradually falling from the ratio 1 euro = 39 THB to 34.8 THB per euro at the end of 2019, rising again this summer of 2021 to the current 38 baht per euro.
But keep in mind that this graph represents the value of the Thai bat “currency” against the euro, and not that of the real currency, which is lower. In fact, in currency suppliers in Portugal you can buy in June 2020 bahts at an exchange rate of around 24 to 31 THB for each euro, depending on where you choose to exchange currency. Nothing to do with the euro-baht currency exchange.
So, when you see these values in Google and other currency converters with your mobile, you should keep in mind the following:
- This is an unofficial rate, and therefore not reliable. That is, if you click on the “Disclaimer” link, you get this warning from Google Finance: “Google cannot guarantee the accuracy of the exchange rates displayed. Please confirm the current rates before making a transaction that may be affected by changes in exchange rates.”
- These rates that you see are usually wholesale rates of the Thai baht against the euro currency (currency and banknotes are not the same).
- This rate can only be obtained by banks among themselves, that is, it is impossible to obtain it as an individual.
If you need baht in bills you will have to go through the banknote retail market (bank or currency supplier). This market means that the THBs have had to be “carried” by someone for you to enjoy them (or bought from travelers from Thailand passing through Portugal previously).
In other words, moving banknotes from one place to another has logistical costs that will make its sale prices more expensive (the exchange rate that whoever sells it will apply to you).
The baht is not a very abundant currency/currency in Portugal. As a result of its scarcity, its rate is more expensive in Portugal than in Thailand. If you decide to buy Thai baht in Portugal, it is good to anticipate the purchase and book them online to get a better rate.
Where to exchange Thai baht
In Portugal, Thai baht can be exchanged at banks and currency suppliers, high street or at the airports. Here’s what you need to know about the three options before you buy or sell your baht:
- The airport is by far the worst option because of the high price at which baht are bought and sold. The currency suppliers that operate at the airport (Unicâmbio) do not charge you a commission, but they charge more than that with the high exchange margins that apply to you. The profits from this lucrative business are shared between Aèroports de Paris and the currency supplier that operates at the airport.
- Portuguese banks in general have the ugly habit of charging commissions for practically everything. In currency exchange, in addition to applying a margin on the purchase or sale of bahts, they apply a commission of between 2.5 and 3% on the volume exchanged, with a minimum of between 6 and 10 euros. This means that the currency exchange is not usually interesting in your bank, although that is what Cambiator is for, to show you the price at which foreign currency is sold and bought on a daily basis.
- Currency suppliers that do not operate at the airport do not usually charge you a commission if you contract your bahts online (home delivery or online reservation with collection at one of their offices in the city center). We recommend you check the rates of the currency suppliers that collaborate with Cambiator since they are quite competitive, and they vary every day.
Euro to thai baht exchange rate today
To find out the euro-thai baht exchange rate today, the best thing you can do is use our currency comparator.
- Exchange euro to baht (EUR-THB)
- Exchange baht to euro (THB-EUR)