The Treasury Department introduced new coins with a portrait of His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun.
Finance Minister Apisak Tantivorawong confirmed the Treasury Department will introduce new coins in the baht currency with the portrait of His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun from 6 April 2018, while other existing coins will still be valid.
The new coins will come out in nine denominations, valuing 10, 5, 2, 1, 0.5, and 0.25 baht for general circulations with the other side being a portrait of His Majesty the King looking to the right, and a relief of the word “Mahavajiralongkorn” on the right, and “Rama X” in Thai alphabet on the left.
Coins in the denominations of 0.10, 0.05, and 0.01 baht will be introduced but not for regular uses.
The other sides of the new coins portray the royal cypher of His Majesty the King, the word “Thailand,” and their minting year in BE.
He said the existing coins featuring a portrait of the late King Rama IX will still be valid, adding that the uses of coins and banknotes will gradually decline in the future as more and more people opt to make payments on electronic platforms, which help reduce the manufacturing costs and save some 10 billion baht in budget yearly.