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The History Of Thai Currency - From Ancient Beads To Modern Baht
By Eric Lim, Thu Dec 8th
The history of Thailand traces the evolution of themedium of exchange used in Thailand prior to the 1st century.This dates from the days of barter trade, ancient beads andmoney in various shapes and sizes till the in moderntimes. Ancient beads, seeds, bracelets and pebbles used as amedium of exchange in the early days around 200 – 300 BC,have been discovered in Thailand, including old Roman coppercoins dating back to 270 BC! During the 1st – 7th centuries, metallic coins of theFunan Kingdom in Indochina made their appearance inThailand, followed by Dvaravati coins in the 7th – 11thcenturies. This was followed by a period in the history of Thaicurrency when money in different shapes and sizes from variousplaces were in use.
Sandal wood flower coins or Dok Jan coins from the SriVijaya Kingdom in SE Asia were introduced in trade in theregion in the 8th – 13th centuries. Cowrie shells and bakedclay coins were also used from the pre- Sukhothai erauntil the reign of King Rama IV, when they were dropped fromcirculation. From the 14th – 19th centuries, coins from theLanna Kingdom in the northern Thailand embossed withvarious designs were also in circulation. Around the sameperiod, 15th – 19th centuries, Lanchang, the kingdom innortheastern Thailand introduced silver and copper piecesin long and narrow boat shapes. In the history of Thai currency, the money that was mostenduring was Pot Duang or bullet money. This firstappeared during the Sukhothai era, 13th – 14th centuries.Pot Duang money were hand-made coins. Metal strips were bent andfolded into spheres very much like a bullet, thus the name,bullet money. Bullet money was in circulation for 600 years from the Sukhothaiera to Rattanakosin until its withdrawal from circulation in1904 during the reign of King Rama V. The most
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<a href="http://www.fxstreet.com/fundamental/analysis-reports/daily-trading-analysis-/2012-02-07.html" style="font-size:1.2em">German Industrial Production Holds Key to Euro's Day</a>
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<div style="width:80%;">by Marcio Pereira - Tradervox.com | View company's profile One of the most difficult things to do in trading is adapting your positions on the opening of the US markets.</div>
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<a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=4031b3ff-654d-4b9e-827a-0e6e57a964ef" style="font-size:1.2em">Forex Flash: EUR/USD estimated downside to 1.1500 end of 2012 ? UBS</a>
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<div style="width:80%;">FXstreet.com (Barcelona) - January witnessed the bloc currency surge from sub 1.2650 levels to the 1.3230 region. Better-than-expected key economic indicators in the euro zone, successful bond and T-bill auctions in Germany and peripheral debt markets ...</div>
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Euro Slightly Lower As Greek Debt Talks Linger
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<div style="width:80%;">In a thinly traded session devoid of key eco releases, attention went to the tribulations surrounding the Greek bail-out package. So some risk-off buying and maybe some short covering following Friday's correction led to modest daily gains.</div>
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The EUR/USD cross rate drifted lower in Asia yesterday
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<a href="http://www.fxstreet.com/fundamental/market-view/sunrise-market-commentary-currencies/2012-02-07.html" style="font-size:1.2em">The EUR/USD cross rate drifted lower in Asia yesterday</a>
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EUR/GBP Forecast February 7, 2012, Technical Analysis
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Pre Market Briefing, including 'Euro-zone investor confidence improved in <b>...</b>
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<a href="http://www.proactiveinvestors.co.uk/columns/guardian-cfd-s-pre-market-briefing/8246/pre-market-briefing-including-euro-zone-investor-confidence-improved-in-february-8246.html" style="font-size:1.2em">Pre Market Briefing, including 'Euro-zone investor confidence improved in <b>...</b></a>
<br> <span style="color:#888888;">Proactive Investors UK</span> - <span style="white-space:nowrap">3 hours ago </span>
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Ageas Outlines Settlement Impact With Fortis Bank And BNP Paribas - Quick Facts
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<a href="http://www.nasdaq.com/article/ageas-outlines-settlement-impact-with-fortis-bank-and-bnp-paribas---quick-facts-20120207-00062" style="font-size:1.2em">Ageas Outlines Settlement Impact With Fortis Bank And BNP Paribas - Quick Facts</a>
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Daily Report: Aussie Soars after RBA Pause, Euro Soft on Greece
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<a href="http://www.actionforex.com/action-insight/market-overview/daily-report:-aussie-soars-after-rba-pause,-euro-soft-on-greece-20120207159008/" style="font-size:1.2em">Daily Report: Aussie Soars after RBA Pause, Euro Soft on Greece</a>
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<div style="width:80%;">Aussie jumps sharply today and hit new record high against Euro after RBA unexpected left rates unchanged at 4.25%. The RBA unexpectedly left the cash rate unchanged at 4.25% in February, in contrast with consensus of a rate cut by -25 bps.</div>
<a href="http://www.ibtimes.com/articles/293874/20120206/weekly-summary-usd-eur-gbp-jpy-aud.htm">Weekly Summary on USD, EUR, GBP, JPY, AUD, CAD, MXN and RMB</a> - <span style="color:#888888">International Business Times</span><br>
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EUR/USD - A Descending Triangle Pattern Emerges
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.actionforex.com/index.php?option=com_content&view=article&id=158995:eurusd-a-descending-triangle-pattern-emerges&catid=191:daily-forex-technicals" style="font-size:1.2em">EUR/USD - A Descending Triangle Pattern Emerges</a>
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<div style="width:80%;">EUR/USD has been testing the patience of traders for the better part of 2-weeks now, chopping around in a 200 pip range between 1.3030 and 1.3230.</div>
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Forex: EUR/USD again closes NY in 1.3130/40 zone
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<a href="http://community.nasdaq.com/News/2012-02/forex-eurusd-again-closes-ny-in-1313040-zone.aspx?storyid=118921" style="font-size:1.2em">Forex: EUR/USD again closes NY in 1.3130/40 zone</a>
<br> <span style="color:#888888;">NASDAQ</span> - <span style="white-space:nowrap">11 hours ago </span>
<div style="width:80%;">FXstreet.com (San Francisco) - The euro fell to a three-day low against the Greenback on Monday, reaching 1.3027 as Greek leaders wrestled with spending cuts to get aid and avert a default; Greece needs another E600mn in budget cuts to meet 2012 troika ...</div>
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profound changes in the history of Thai currencyoccurred during the Rattankosin era in the reigns of KingRama IV and King Rama V. Standardized factory minted coinsand printed bank notes were officially issued. During the reign of King Rama IV, when foreign trade anddiplomatic relations expanded, the paper money, in the form ofroyal promissory notes, was issued in 1853. These were followedby bank notes issued by the foreign to facilitate tradeclearance. In 1857, Queen Victoria of Britain presented Thailand with thefirst minting machine and the minting of the first Thai silvercoins commenced. In 1858, a minting machine purchased fromBritain and the Royal Mint was set up in the Grand Palace andthe minting of coins went ahead full steam. In the reign of King Rama IV, money was denominated in satang,tho, phi, padueng and baht. During the reign of King Rama V, or King Chulalongkorn, coinagewas streamlined. The numerous denominations were reduced to onlytwo, satang and baht, based on the metric system, whichremain till this day. Bank notes issued were in denominations of1, 5, 10, 40,80, 100, 400 and 800 baht. Today, the denominations have been streamlined to 25, 50 satangcoins, 1, 5, 10 baht coins and 20, 50, 100, 500, 1,000 bahtnotes. The history of Thai goes back more than 1,000 years,evolving from ancient beads and bracelets to the modern bahtthat's in current use. The ancient beads, bullet money and old currencies can be viewedat the Bank of Thailand Museum in Bang Khun Phrom Palacewithin the premises of the Central Bank of Thailand.
About the author: This article first appeared in Tour BangkokLegacies, a historical travel site on people, places andevents that shaped the landscape of Bangkok. The author, EricLim, is a free-lance writer who lives in Bangkok Thailand.
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<a href="http://www.euro-exchangerate.com/british-pound-eur-safe-haven-06021355.html" style="font-size:1.2em">British Pound Sterling: Currency continues advance against EUR, safe haven <b>...</b></a>
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the international exchange market, the market for conversion exchange operations of specified amounts of one country’s currency into the ...
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