1,000 Baht banknotes debut today

[webfact]

1,000 Baht banknotes debut today

BANGKOK, 21 August 2015 (NNT) – The Bank of Thailand (BOT) has released its latest version of the 1,000 baht banknote.

The production of the banknote is based on state-of-the-art technology to prevent forgery. The watermark depiction of His Majesty the King on the notes, is translucent and can be seen on either side when the note is exposed to light.

The gold-colored ink on the notes turns green when the notes are riffled. Within the printed ink lie the red-colored traditional Thai numerals for one thousand. For visually-challenged people, the notes also bear Braille characters symbolizing four flowers, whereas the old version has the Braille alphabet letter T meaning thousand.

The first batch of 1,000-baht banknotes totaling 100 million notes, made its debut today. The BOT expects that this latest version of the high value banknote will replace the present one within two years.


-- NNT 2015-08-21

[Deserted]

Link doesn't open

[ezzra]

Link doesn't open

A good start for the new banknote right?,, I wonder how come Thailand print so many versions of it's

currencies, you get a new banknote like every few months in this country, why? and how do they

back up this endless printing of money? with what? with it's gold reserves? or just print willy niily

and hope for the best.....

[haroldc]

Have banks re-programmed their Automatic Deposit Machines to accept this new note? Many still will not accept the newest 500 baht note.

[ratcatcher]

Link doesn't open

A good start for the new banknote right?,, I wonder how come Thailand print so many versions of it's

currencies, you get a new banknote like every few months in this country, why? and how do they

back up this endless printing of money? with what? with it's gold reserves? or just print willy niily

and hope for the best.....

They have merely updated the portrait if His Majesty to reflect his modern appearance. This has already been done on the B20 , B100 and B500. Not sure about the B50 as they messed with that a few years ago with a fine plastic material. This B1000 is just the end of the revamp unless they issue a larger denomination note for the big spenders.

Paper money only has a limited life span and as the notes become torn or badly worn, they are slowly replaced.

There are also commemorative notes printed to honor royalty or special occasions, I believe. Collectors usually snap them up.

[Morakot]

http://banknotenews.com/files/1027b39baa31c8664f6c8dfacbeaee97-3588.php

n4158e.pdf

Edited August 21, 2015 by Morakot

[jalansanitwong]

I wonder if theyre made by Notes Australia... printers of the polymer aussie dollar . Apparently it cannot be counterfeited. They used to make 50 baht notes for LOS...probably still do.

Edited August 21, 2015 by jalansanitwong

[Assurancetourix]

Link doesn't open

A good start for the new banknote right?,, I wonder how come Thailand print so many versions of it's

currencies, you get a new banknote like every few months in this country, why? and how do they

back up this endless printing of money? with what? with it's gold reserves? or just print willy niily

and hope for the best.....

They have a very good teacher ;

QE like in USA

[Sviss Geez]

Link doesn't open

A good start for the new banknote right?,, I wonder how come Thailand print so many versions of it's

currencies, you get a new banknote like every few months in this country, why? and how do they

back up this endless printing of money? with what? with it's gold reserves? or just print willy niily

and hope for the best.....

When was the last version of the 1000 baht note issued, a few months ago or a few years ago?

They don't need to back up this endless printing of notes (not QE printing of money), they do the same as every other country that issues paper money by taking old damaged/dirty notes out of circulation and replacing them constantly.

[Deli]

Would be nice to have 2000 / 5000 / 10000 notes....

1000 THB / 25 Euro as biggest note is just a joke, with prices called

[thrilled]

The problem with the new 1000 baht note is technology is there to duplicate it.They were saying when the new $100 U.S. Dollar

That came out Around two years ago couldn't be copied.But Supposely they are starting to be counterfeited

[spidermike007]

Does anyone have any idea why the largest note here is only 1,000 baht? It seems quite low, in this day and age. The Euro is available in a 500 denomination. That is about 19,000 baht.

[taiwanatoa]

And take a wild guess who's image is on it.

Edited August 21, 2015 by taiwanatoa

[speedtripler]

Does anyone have any idea why the largest note here is only 1,000 baht? It seems quite low, in this day and age. The Euro is available in a 500 denomination. That is about 19,000 baht.

The Swiss franc have an even larger note lol

I hate buying expensive stuff with a brick of cash, they should have high value notes but since most taxis don't ever have change of even a smaller note, their use would be only for the minority and nobody would want to accept them except for larger purchases

[jacko45k]

I wonder if theyre made by Notes Australia... printers of the polymer aussie dollar . Apparently it cannot be counterfeited. They used to make 50 baht notes for LOS...probably still do.

Are those the ones that didn't last very long?

I do recall the 'plastic' 50 baht notes of some years ago and initially thought they were a good idea. But they were withdrawn for a reason.... I think the patterns rubbed off rather quickly with wear..

Edited August 21, 2015 by jacko45k

[spidermike007]

Does anyone have any idea why the largest note here is only 1,000 baht? It seems quite low, in this day and age. The Euro is available in a 500 denomination. That is about 19,000 baht.

The Swiss franc have an even larger note lol

I hate buying expensive stuff with a brick of cash, they should have high value notes but since most taxis don't ever have change of even a smaller note, their use would be only for the minority and nobody would want to accept them except for larger purchases

That is true. But, for larger payments such as a vehicle, property, jewelry, and other purchases of 50,000 baht or more, it sure would be handy. I have seen people walk into a car dealership, pull out a bag with 850,000 baht in it, and pay for a vehicle, all cash. That was alot of counting for the people involved. Since 1,000 baht is now worth less than $30, it certainly makes sense. At least a 5,000 baht note.

[sammygood]

20 th century technology just arrived in thailand

[springheeled jack]

I don't think it will make any difference to my life unless somebody gives me some.

[stoli]

Developing any new currency today is very burdensome. When the Euro was developed, they created a 2 Euro coin which was identical in size and weight to the Thai 10 baht coin. European vending machines were swamped with the Thai 10 baht coins.

[taony]

I remember that! I had gone on a trip to France at the time and discovered it by accident.

Was it 2 Euro or 1 Euro coins?

Edited August 22, 2015 by taony

[Basil B]

Would be nice to have 2000 / 5000 / 10000 notes....

1000 THB / 25 Euro as biggest note is just a joke, with prices called

1000B = £20 probably the most used note in the UK...

A few months ago Cameron said he wanted to do away with the £50 note as it was mainly used for money laundering.

[attrayant]

Would be nice to have 2000 / 5000 / 10000 notes....

1000 THB / 25 Euro as biggest note is just a joke, with prices called

We had this discussion a few months ago when the new 100 note was issued. That thread turned into a "why don't they make something bigger?" discussion in post #3!

http://www.thaivisa.com/forum/topic/803143-new-100-baht-banknotes-on-circulation-thursday/

[Carmine6]

Would be nice to have 2000 / 5000 / 10000 notes....

1000 THB / 25 Euro as biggest note is just a joke, with prices called

1000B = £20 probably the most used note in the UK...

A few months ago Cameron said he wanted to do away with the £50 note as it was mainly used for money laundering.

Found this while searching for stories on banning 500 Euro notes which seems to pop up as a news story about every year. The UK stopped exchanging pounds for 500 Euro bills back in 2010. Worried about people moving money out of the country.

http://uk.reuters.com/article/2010/05/13/uk-britain-euro-idUKTRE64C1JN20100513

This story from last year, say Finnish police want the 200 Euro and 500 Euro bill banned.

http://yle.fi/uutiset/police_request_500_euro_banknotes_be_taken_out_of_circulation/7527539

The governments of the world are trending toward encouraging larger transactions to go through electronic (traceable) methods. (Except for the odd situation like happened in Zimbabwe that had to make ever bigger bills.)

[speedtripler]

Would be nice to have 2000 / 5000 / 10000 notes....

1000 THB / 25 Euro as biggest note is just a joke, with prices called

1000B = £20 probably the most used note in the UK...

A few months ago Cameron said he wanted to do away with the £50 note as it was mainly used for money laundering.

Found this while searching for stories on banning 500 Euro notes which seems to pop up as a news story about every year. The UK stopped exchanging pounds for 500 Euro bills back in 2010. Worried about people moving money out of the country.

http://uk.reuters.com/article/2010/05/13/uk-britain-euro-idUKTRE64C1JN20100513

This story from last year, say Finnish police want the 200 Euro and 500 Euro bill banned.

http://yle.fi/uutiset/police_request_500_euro_banknotes_be_taken_out_of_circulation/7527539

The governments of the world are trending toward encouraging larger transactions to go through electronic (traceable) methods. (Except for the odd situation like happened in Zimbabwe that had to make ever bigger bills.)

In Ireland the 500 euro notes used to be called "bin ladins" and shops were very reluctant to take them but I think they have a useful place in society

Governments should catch the criminals instead of making the note itself illegal, I have often carried considerable amounts on holidays and I use large notes to avoid having bricks of cash that are much more vulnerable to thieves than a few notes you can fold in your wallet...

Why punish every law abiding citizen because a couple of people might use big notes for crime etc...

Ban kitchen knives and axes too, every year a few people get....

[chainarong]

I wonder if theyre made by Notes Australia... printers of the polymer aussie dollar . Apparently it cannot be counterfeited. They used to make 50 baht notes for LOS...probably still do.

I do believe you are right, they also do notes for Indon, Sing , HK and other places.

[masuk]

I wonder if theyre made by Notes Australia... printers of the polymer aussie dollar . Apparently it cannot be counterfeited. They used to make 50 baht notes for LOS...probably still do.

The polymer notes have one big advantage. they can be produced with a clear 'window'.

This makes photocopying difficult as the window would appear black.

[anotheruser]

I think a 5,000 baht note would be helpful. To stay on topic the new 1,000 note looks pretty nifty.

[ilostmypassword]

Link doesn't open

A good start for the new banknote right?,, I wonder how come Thailand print so many versions of it's

currencies, you get a new banknote like every few months in this country, why? and how do they

back up this endless printing of money? with what? with it's gold reserves? or just print willy niily

and hope for the best.....

Currency is a very small fraction of the total money supply. What's more, banknotes have a limited life span. So as the worn out ones get replaced, the new ones will be put into circulation.

[Suradit69]

Does anyone have any idea why the largest note here is only 1,000 baht? It seems quite low, in this day and age. The Euro is available in a 500 denomination. That is about 19,000 baht.

Most legal transactions involving large amounts of money are handled through banking transactions. High value notes are more convenient for money laundering, drug deals and they also increase motivation/value of trying to counterfeit money.

The largest denomination bill in US$ you're likely to ever see is the $100 for those same reasons. There have been larger denominations printed, but very limited use or withdrawn since issued.

[Suradit69]

Link doesn't open

A good start for the new banknote right?,, I wonder how come Thailand print so many versions of it's

currencies, you get a new banknote like every few months in this country, why? and how do they

back up this endless printing of money? with what? with it's gold reserves? or just print willy niily

and hope for the best.....

The current series of notes replaces the older 15th series, some denominations of which were first issued beginning in the 1990's and early 2000's, so it's hardly every few months. Only series 9 to 16 have been issued during the current reign.

The new series has been released over time with staggered introduction of the different denominations.

When it comes to printing money willy nilly, I think the prize goes to the US and Europe ... although technically speaking they no longer have to bother printing it. They just have their computers add new entries on their bank deposits and issue new debt that no one will ever pay off.

Edited November 18, 2015 by Suradit69