Packed your bags for your dream Thailand trip? This blog talks about something super important to remember. Yes, your foreign currency! We all know that financial constraints while on travel not only empty your wallet but can even ruin the fun. So, this guide is to make sure you’re all set with the best currency to take to Thailand from India and get ready for a smooth and amazing journey!
Also Read: Carrying Money from India while Travelling to Thailand – 5 Points to Note
The Best Currency to Carry to Thailand – Thai Baht (THB)
Thai Baht (THB), the official currency of Thailand, is the best currency to take to Thailand from India as it is accepted throughout the country.
Having Thai Baht on hand means you’re ready to go anywhere and do anything. Plus, you can spend time clicking pictures rather than hunting for an exchange counter around the country.
Can You Use USD or INR in Thailand?
Yes, in touristy areas or 5-star hotels, you might be able to use currencies like INR, USD, or even EUR. However, you might not always be lucky, moreover, these places offer poor exchange rates. To save yourself from getting a bad deal, it’s better to stick to Thai Baht and spend the money on buying souvenirs.
How to Buy Thai Baht in India?
There are several options for buying Thai Baht in India. However, always remember to buy the necessary currency and Forex card at least 3 days before your trip to avoid last-minute rush. Here’s a list of the most popular and safest options:
Option 1: Airports Exchange Counters
Both Indian and Thai airport exchange stores are run by reputed forex vendors. However, these counters tend to have higher exchange rates and fees because of the high rent they pay for airport locations. Since travellers are in a last-minute rush, exchange vendors take advantage of it.
Option 2: Banks
Most banks in India allow you to buy foreign currency, including THB. While it’s a trustworthy option, the exchange rates can be higher, and the process may take longer due to the paperwork involved.
Option 3: Currency Exchange Stores
Currency exchange stores are commonly available in major cities, offering decent exchange rates. But always exercise caution, as some less-reputable stores may offer counterfeit currencies. Stick to well-known vendors or those you’ve personally verified.
Option 4: Online Forex Aggregators
Online forex aggregators are an underrated foreign exchange option. For a smarter, more convenient way to exchange currency, online forex aggregators like ExTravelMoney are the way to go. ExTravelMoney compares exchange rates from top banks and RBI-authorised exchange houses near you, helping you get the best exchange rate. Plus, you can complete the exchange online and get your currency and Forex card delivered to your home, saving you time and effort.
Pro Tip: Keep an eye on the mid-market exchange rate, which is the rate displayed on Google. This rate is the midpoint between the buying and selling prices of two currencies at any given time. Knowing this helps you assess whether the markup charged by forex vendors is reasonable.
Check Today’s Interbank Rates
Best Way to Buy Thai Baht Online
For an affordable and convenient experience in Thailand, it’s best to carry a combination of cash and a forex card in a 30:70 ratio. You can purchase these from a forex service provider in India, preferably through an online forex aggregator like ExTravelMoney.
Currency:
- Carry 30% of your expenses in cash. This will help you cover places that don’t accept cards, such as local markets and tipping at hotels.
- By carrying less cash, you reduce the risk of loss or theft.
- Since Thailand is a digitally developed tourist destination, carrying a large amount of cash is unnecessary.
Forex Card:
- Upload the remaining 70% of Thai Baht on a multi-currency forex card. These cards often offer better exchange rates than cash.
- You can tap or swipe the card like a debit card for purchases in Thailand, and withdraw cash from an ATM when necessary.
- Forex cards don’t charge conversion or international transfer fees, although an ATM withdrawal fee is charged per withdrawal. So, it is best to minimise the number of withdrawals and maximise the amount withdrawn.
Pro Tip: To avoid any last-minute rush, make sure to purchase the necessary Thai Baht currency and Forex card at least three days before your trip.
What to Do with Excess Thai Baht After Travel?
When you return to India after your trip to Thailand, you can exchange any leftover Thai Baht and unload your forex card with the help of a forex service provider or an aggregator like ExTravelMoney.
How much Thai Baht Can You Bring In and Out of Thailand?
Thailand Customs Rules: Travellers must declare any foreign currency over USD 20,000 or equivalent upon entering and exiting Thailand. Similarly, travellers can carry Thai Baht currency up to THB 50,000 and declare the excess amount to the customs.1
Indian Customs Rules: Travellers can carry foreign currency up to USD 3000 as cash. On returning to India, they can bring back USD 5000 in cash. The remaining amount (annual LRS limit USD 250,000) can be loaded onto a Forex card and carried.2
When travelling to Thailand, having 30% of Thai Baht in your wallet and 70% in your Forex card is the best way to ensure a smooth travel experience. Compare exchange rates between banks and RBI-authorised money changers near you online. Avoid the stress of high exchange rates and last-minute confusion by purchasing with ExTravelMoney.
Also Read: 7 Best Places to Travel in Thailand on a Budget & Like a Boss!
Ann Mariya Job is the Associate Content Writer at ExTravelMoney.com. Holding a Bachelor’s in Journalism, she excels in creating deeply researched, engaging, and crisp content. Her work helps readers understand the complexities of foreign exchange, overseas money transfers, and international travel.