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The nation did not gain a central bank until WWII, however, with the invasion of the Japanese and demands for the creation of a central banking authority.From its formal launch in the mid-19th century, the baht was based on a standard weight in silver.The first urban societies known in the region were established by the Mon and Khmer people in the ninth-century BC and the Funan state in the first-century A. Coins dating back to third-century BC from the Roman Empire and shells and beads used for trade in ancient times have been found in the region.

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Over time, the country saw the evolution of several types of coins with different shapes and markings, including currencies known as leech money, leaf money, pig-mouthed money, flower money and bracelet money.Coins were also produced by the Sri Vijaya Kingdom, which existed from the eighth to the 13th century.The currency that later came to be known as the baht has its origins in the Sukhothai Kingdom in the 13th century, with the coinage of the Pot Duang currency.The prang is described by the Tourism Authority of Thailand as 104m high, while most other sources quote figures around 80-85m.It is decorated by bits of porcelain which had previously been used as ballast by boats coming to Bangkok from China, a hallmark of the reign of King Rama III.The Wat had a brief period as host of the celebrated Emerald Buddha, which now resides in nearby Wat Phra Kaew.

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