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About Thai Baht
The baht is the official currency of Thailand. It is divided into 100 satang. The currency was officially adopted 1238 and continuously issued since. Initially issued in the podduang form, King Rama IV decided to switch to flat coins in 1860. The baht was then decimalized in 1897, before then the baht was divided into 8 fueang, each of into 8 at, and of piece into 100 bia. The issuance of currency is the responsibility of the Bank of Thailand. SWIFT ranked the Thai baht as the 10th-most-frequently used world payment currency as of December 2023.
The baht was defined as 15.16 grams of silver or gold, which was exchanged at 16:1 ratio. This was the case until the decree of June 29th 1874 which switched the Thai baht to the silver standard, and again in 1908, converting the baht to the gold standard before being completely debased in 1962 with the halt in production of the silver baht coin. WikipediaAbout United States Dollar
The United States dollar is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color.
The U.S. dollar was originally defined under a bimetallic standard of 371.25 grains fine silver or, from 1834, 23.22 grains fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equivalence to gold was revised to $35 per troy ounce. In 1971 all links to gold were repealed. The U.S. dollar became an important international reserve currency after the First World War, and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Agreement towards the end of the Second World War. The dollar is the most widely used currency in international transactions, and a free-floating currency. Wikipedia