Bangkok – Thai people are flocking to commercial banks to exchange old banknotes and coins for new ones featuring a portrait of His Majesty the King.
The Government Savings Bank at Or Tor Kor Market was besieged by banknote collectors on Friday. Launched in denominations of 20, 50 and 100 baht, all bank notes bear the image of HM King Rama X.
The first batch of new notes was gone in less than two hours of their release.
The front of the bills carries the image of His Majesty dressed in his Royal Thai Air Force uniform and the backs display the nine previous monarchs of the House of Chakri, two on each note.
The 500 baht and 1,000 baht versions will be released on July 28, the 66th birthday of His Majesty.
According to the central bank of Thailand, the old banknotes will remain legal tender and the new ones are the same in size and colors.
