AUD to THB Exchange Rate

Ah, Thailand: Home to roughly 35,000 temples, 1,430 islands, and one-tenth of all animal species on the planet. Obviously.

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What influences the AUD/THB exchange rate?

The Bank of Thailand prints and issues the THB, and it also manages the nation’s foreign exchange rate according to the Exchange Control Act.2 Australia, on the other hand, has a floating exchange rate, and its currency maintains stability through the Reserve Bank of Australia’s monetary policy.

 

One of the measures of the AUD exchange rate is the trade-weighted index (TWI), which is a price based on the weighted average of a basket of currencies comprised of Australia’s most valuable trading partners. As of December 2016, the weight for THB was 3.6729%.3


The Thai baht is an emerging market currency which has seen substantial volatility in recent years. After the death of Thailand’s King Bhumibol Adulyadej in October 2016, Crown Prince Maha Vajiralongkorn began his reign 1 December 2016. How the new king will impact the economic and political landscape remains to be seen.

 

AUD/THB Snapshot

“Thailand is now Australia's eighth-largest goods and services trading partner, and our second-largest in ASEAN.” – Australian Government Department of Foreign Affairs & Trade4

 

  • The Thai economy is one of the strongest in Asia, with a vibrant agricultural economy that made way for modern industrialization.5

  • In 2015, Thailand was ranked 27th in GDP, while Australia ranked 12th.5 In 2014, Thailand was the 22nd largest exporter and the 25th largest importer in the world, while Australia was the 21st biggest exporter and 21st biggest importer.6,7

  • Thailand’s top exports include computers, delivery trucks, integrated circuits, refined petroleum, and cars, while its top imports include crude petroleum, integrated circuits, petroleum gas, gold, and refined petroleum.6

  • TAFTA allows Australian investors to more easily access opportunities in Thailand, particularly in sectors like construction, hotels and restaurants, mining, maritime cargo services, and tertiary education institutions.8  

 

Whether you’re planning on getting married in Thailand or sending money back home to friends and family, OFX can help you save on your international money transfers. If you need to make a payment to Thailand, use OFX so you don’t get stung by high bank margins and fees. Register today to get access to our low rates and personalised service.

 

Currency Name: Thai Baht  

Currency Code: THB

Currency Symbol: ฿

Central Bank: Bank of Thailand

Countries Used In: Thailand

Major Unit: One Baht     

Minor Unit: Satang = 1/100 of 1 Baht

Note Denominations: ฿20, ฿50, ฿100, ฿500, ฿1,000

Coin Denominations: 1, 5, 10, 25, 50 satang, ฿1, ฿2, ฿5, ฿10

 

THB to AUD exchange rate analysis. Check out our daily market analysis to learn the factors influencing the THB to AUD exchange rate today.

Sources:

  1. http://www.pbs.org/edens/thailand/bounty.htm
  2. https://www.bot.or.th/English/AboutBOT/RolesAndHistory/Pages/RolesAndResponsibility.aspx  
  3. http://www.rba.gov.au/mkt-operations/ex-rate-rba-role-fx-mkt.html  
  4. http://dfat.gov.au/geo/thailand/pages/thailand-country-brief.aspx  
  5. http://www.nationsencyclopedia.com/economies/Asia-and-the-Pacific/Thailand-OVERVIEW-OF-ECONOMY.html
  6. http://databank.worldbank.org/data/download/GDP.pdf
  7. http://atlas.media.mit.edu/en/profile/country/tha/
  8. http://atlas.media.mit.edu/en/profile/country/aus/
  9. http://dfat.gov.au/trade/agreements/tafta/pages/thailand-australia-fta.aspx