Wednesday, August 5, 2009
Thailand: A new 20 Baht Circulation Coin?
Economy of Thailand is expected to contract 4.5% from last year. The Treasury Department of Thailand has reported that coin exchanges for banknotes have nearly doubled in recent months. More than 7 million coins were returned to the Treasury Department per month compared with 3-4 million in normal economic times. Coin usage shows more 10 Baht coins in the market. No official statement has been issued whether the new series 10 Baht coin will be minted in 2009 or not.
However, an article which appeared in Bangkok Post on 27th July mentioned that "One official said the Treasury Department had held discussions with the Bank of Thailand about introducing a 20-baht coin to substitute for 20-baht banknotes. Coins typically have a lifespan of 10 years in circulation, significantly longer than more fragile banknotes."
A 20 Baht circulation coin?
WOW. That would be one big and heavy coin to carry in one's wallet as in the past all 20 Baht commemorative coins have been made of Cupro-Nickel having a diameter of 32mm and weighing 15g.
Will keep you all posted with new developments on this interesting development. Full article can be found at the link below...