11 March 2011
CURRENCY ACT B.E. 2501
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BHUMIBOL ADULYADEJ, REX
Given on the 18th day of August B.E. 2501:
Being the 13th Year of the Present Reign
Authorized Official Translation
By Royal Command of HIS MAJESTY KING BHUMIBOL ADULYADEJ, it is hereby
proclaimed that:-
Whereas it is expedient to revise the law on the currency;
It is hereby enacted by and with the advice and consent of tha Assembly of the
People’s Representatives, as follows:
Section 1. This Act shall be called “The Currency Act, B.E. 2501”
Section 2. This Act shall come into force on and from the day following the date of
its promulgation in the Government Gazette.
Section 3. The following shall be repealed:
(1) The Currency Act, B.E. 2471;
(2) The Currency Amendment Act, B.E. 2473;
(3) The Currency Amendment Act, B.E. 2475;
(4) The Currency Act (No. 4), B.E. 2479;
(5) The Currency Act (No. 5), B.E. 2482;
(6) The Currency Act (No. 6), B.E. 2483;
(7) The Currency Act (No. 7), B.E. 2484;
(8) The Currency Act (No. 8), B.E. 2485;
(9) The Currency Act (No. 9), B.E. 2485;
(10) The Currency Act (No. 10), B.E. 2487; and
(11) The Currency Temporary Act (No. 7), B.E. 2501.
Section 4. In This Act,
“Monetary Fund” means the International Monetary Fund under the Agreement on
the International Monetary Fund, of which Thailand is a member.
“Reserve Tranche Purchase Certificate” means reserve tranche certificate issued
under the law empowering the execution in respect of the International Monetary Fund and the
International Bank for Reconstruction and Development.
“Spot transaction” means exchange transaction effected by telegraphic transfer
order.
“Foreign securities” means
(1) securities of a foreign government or of an international financial institution of
which Thailand is a member.
(2) securities guaranteed by a foreign government or by and international financial
institution of which Thailand is a member.
(3) instruments issued by an international financial institution of which Thailand is a
member as evidence that the holder thereof is participating with such institution in making
available loans to member government or organizations of member governments of the said
institution to the amount indicated in the instruments.
“Remedy” means variation of weight and fineness of a coin from the prescribed
standard weight and fineness.
“Convertible currency” means currency of a country which has accepted the
obligations imposed by Article VIII of the International Monetary Fund Agreement.
“Special Drawing Right Certificate” means special drawing right certificate issued
under the law on the authorization and the regulation of certain operations concerning special
drawing right in the International Monetary Fund.
“Minister” means Minister in charge of the enforcement of this act.
Section 5. The Minister of Finance shall have charge and control of the execution of
this Act and shall be empowered to issue Ministerial Regulations for that purpose which shall
come into force on being promulgated in the Government Gazatte.
Chapter 1
Currency and Units of Currency
Section 6. The currency shall consist of coins and notes.
Section 7. The unit of currency is the “Baht”, one baht being divided into one
hundred Satangs.
The word “Baht” may be designated by the abbreviation “B”
Section 8 The par value of the baht shall be the value of the baht as prescribed in
terms of unit of special drawing right or other foreign currency or that one which calculated
from basket of currencies or other uit value established by the International Monetary Fund. The prescription of the par value of the baht shall be made by a Royal Decree.
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