Thailand to issue more new banknotes this month

New baht bank notes featuring Thailand’s King Maha Vajiralongkorn are unveiled during a news conference at Bank of Thailand headquarters in Bangkok, Thailand March 8, 2018. (Reuters pic)

BANGKOK: Thailand’s central bank will this month issue a second batch of new banknotes with a picture of King Maha Vajiralongkorn.

The new 500 baht (US$15) and 1,000-baht notes will be in circulation from the king’s birthday on July 28, Bank of Thailand Governor Veerathai Santiprabhob said in a statement.

The first batch of the new notes has been in circulation since April 6.

The banknotes mark another step in the transition of King Maha Vajiralongkorn, 65, who took the throne in December 2016 and has increasingly asserted his power but has yet to set a date for his coronation.

His late father King Bhumibol Adulyadej was widely revered in Thailand and many Thais wore black through a year of mourning that ended with his cremation last October.

King Bhumibol had appeared on banknotes through the seven decades of his rule. Existing and previous series of banknotes remain legal tender.