19 January 2026.

The Thai Pakdee Party, a new small monarchical party, proposes the demonetization of banknotes of 500 and 1,000 baht.

They base their proposal on the fact that most payment are now made by smartphone or credit card, and that in many cases large notes are used for kickbacks, bribes, procurement fraud and selling of positions, in which the passing of cash envelopes is customary.

Assoc. Prof. Dr. Thanawat Polvichai, President of the University of the Thai Chamber of Commerce, noted that many countries have abolished banknotes to address corruption or issues linked to grey capital, grey businesses, and illegal activities, since those involved often hoard large amounts of cash. The common method is to declare the old banknotes invalid and issue new ones, while setting a deadline — for example, one year — for citizens to exchange their old banknotes. This forces those holding hundreds of millions or billions in cash to bring it out into the open, making them more easily scrutinized for possible links to illicit transactions.

Source: PBS Verify, Thailand.

Order now the NEW 103rd-I 2026 Edition of MRI BANKERS’ GUIDE TO FOREIGN CURRENCY™.

©2026  MRI BANKERS’ GUIDE TO FOREIGN CURRENCY™. All rights reserved.