Thailand's currency is the baht, which is divided into 100 satang. Copper coins are valued at 25 and 50 satang, and silver ones at
1, 5, and 10 baht. Bank notes are valued at 20 (green), 50 (blue), 100 (red), 500 (purple), and 1,000 baht (gray); all denominations of bills are in different sizes.
Established as the central bank in 1942, the Bank of Thailand acts as the Government's banker in local and
international financial dealings. It also supervises commercial banks and other financial institutions, controls and maintains exchange rates, manages national debts,
and gives advice on monetary policies.
There are 16 Thai commercial banks, 21 foreign banks, and 36 representative offices that also operate in Thailand.
The Industrial Finance Corporation of Thailand (IFCT) was established in 1959 to be a specialized financial
institution to facilitate industrial development and to assist in the development of the capital market in Thailand. IFCT's main business is lending medium- and long-term
funds basically to private sector industries, using a project financing approach and making equity investments in private sector projects. Most of the Corporation's long-term
loans have been made to the agribusiness and manufacturing sectors.
The Securities Exchange of Thailand (SET) was established in 1974 with the express purpose of mobilizing
national capital development.