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Thailand's currency is the 'Baht', which is then further subdivided into 'Satang' (100 Satang = 1 Baht). Truth be told, Satang are of no practical value, but you see a lot of them because they always come with change!

Currently, banks notes in Thailand are:

Baht 10 (rare now that there is a Baht 10 coin)
Baht 20
Baht 50
Baht 100
Baht 500
Baht 1,000

Prior to 2 July 1997, the Baht was pegged to the US Dollar at Baht 25:$1. Since 1997 the Baht has been allowed to float freely and the current exchange rate is approximately Baht 36:$1

Generally, the cost of living in Thailand is not expensive. However, certain 'luxury' goods (such as wine) have excessive import taxes which make them extremely expensive to buy. Most shops offer all the basic necessities, and with recent international shopping outlets such as Tesco, Big C (Casino Group) and Carrefour opening in Thailand - almost everything is now available. Boots the pharmacist is also here.