Visiting Pattaya or Bangkok? Paying in Rupees Could Soon Be a Reality as Modi Govt Pushes Indian Currency in Thailand
Tourists may soon be able to use Indian rupees for transactions in Thailand in a move that could transform the travel experience for Indians. Picture this: lounging by the azure waters of Pattaya or indulging in a pampering spa session in Bangkok, all while paying in rupees. It sounds like a dream, but it could soon be a reality as the Modi government sets its sights on promoting the Indian currency in Thailand.
The Reserve Bank of India (RBI) and the Indian government are actively exploring avenues to popularize the rupee in Thailand, a beloved destination for Indian travelers and businesses alike. Seeking insights from authorized dealer banks, which have a pulse on travelers’ spending habits and trade patterns, the central bank is gearing up to facilitate seamless transactions between the two countries, reported TOI.
This endeavor aligns with Prime Minister Narendra Modi’s vision to internationalize the rupee, extending its reach beyond India’s borders. Following a successful swap deal with the United Arab Emirates (UAE) in mid-2023, which enabled traders from both nations to transact in their local currencies, India is now eyeing similar arrangements with Thailand.
As Indians continue to flock to Thailand, drawn by its rich cultural tapestry and scenic landscapes, the convenience of using their own currency could enhance the overall travel experience, making it a win-win for both nations.
For Indian tourists, accustomed to exchanging rupees for foreign currency before embarking on their Thai adventures, the prospect of using their own currency directly is undoubtedly enticing. With Thailand emerging as a top choice for Indian travelers, surpassing even Dubai in popularity post-visa relaxations, the timing couldn’t be more opportune.
