Currency update: Traditional cotton banknotes of denominations B50 and B100 are being replaced with durable polymer versions.
New Polymer Banknotes Introduced in Thailand
The Bank of Thailand has announced the introduction of new 50- and 100-baht banknotes made from special polymer material. This decision follows the successful rollout of the 20-baht polymer banknote.
The new banknotes will be available nationwide through all commercial banks starting from Nov 21. The person responsible for planning this transition is the Governor of the Bank of Thailand.
One of the key advantages of the new polymer banknotes is their resistance to moisture and dirt, making them easier to maintain compared to traditional paper notes. They are also longer-lasting, with a lifespan of up to eight years, which is four times longer than that of paper notes.
The new banknotes will feature upgraded security elements, including a transparent window with embossed numerals and advanced ink that changes color when tilted. Accessibility has been improved for the visually impaired, with tactile Braille symbols indicating the denomination and raised diagonal lines along the edges for easier identification by touch.
The circulation of the current paper 50- and 100-baht notes will continue alongside the new versions, remaining legal tender. Despite not having a specific cost-effectiveness comparison mentioned in this paragraph, it is worth noting that polymer notes are more cost-effective in the long run than paper notes.
The new polymer banknotes do not have a stated durability advantage over paper notes in this paragraph, but the longevity advantage is evident from the success of the 20-baht polymer banknote. The easiness of maintenance of the polymer notes is another benefit, although it is not mentioned explicitly in this context.
In summary, the introduction of new 50- and 100-baht banknotes made from special polymer material in Thailand promises several advantages, including resistance to moisture and dirt, longer lifespan, improved security features, and enhanced accessibility for the visually impaired. They will be available from Nov 21 and will coexist with the current paper notes.
