Dollar Myanmar Kyat Exchange Ratedollar Myanmar Kyat exchange rate
Excruiating Wechselkurse ; Filthy Lucre ; Stash the Cash.
Converting USD/USD. The United States Dollar to The United States Dollar
There is a dollar exchange rate key for dollars, and the exchange rate sign is $.
Preferred Currencies Kyat or United States - Myanmar Forum
Kyat (pronounced "chat") is the offical Myanmar language, acronym " K " or " MMK " and is usually placed before the numeric value (i.e. K500). There are banknotes (without coins) worth 50K, 100K, 200K, 500K, 1000K, 5000K and 10,000Kyat. However, the US dollar is a common alternate payment method, especially for large purchases: foreign nationals are sometimes required to use the dollar to pay for hotel accommodation, top class dining, air travel and historic attractions.
Sometimes a lower rate can occur if payments for these operations are made in Kyat. If you pay in dollar, you will often get your exchange in Kyat. Minor shopping such as taxis, busses and cheap to medium sized lunches are offered and almost always payed in Kyat.
Be prepared to exchange about half of the funds you take to Myanmar for Kyat. When you spend more than a few nights outside Yangon, Mandalay or Nay Pyi Taw, make sure you exchange enough cash in advance; it can be hard to exchange outside the capitals, and you will probably get a lower price.
It is also more diffi cult to find cash machines in these areas. U.S. dollar notes that are being shipped to Myanmar must be in excellent conditions. Dollars should be taken to Myanmar in different denominations: Take ample $10, $5 and $1 notes to cover hotel, flight and historic places and take $100 or $50 notes to exchange for Kyat (larger denominations usually get a better price).
Mistakes of any kind - kinks, stains, wrinkles, etc. - can lead to a much poorer exchange rate or the currency cannot be used. Neither can dollar notes before 2006 or those with the characters AB and HB at the beginning of the series number ( "AB" in the upper lefthand part of the note) be used.
Euro are generally used as exchange currencies and do not have to be in perfect working order. Therefore, it is a good idea to keep the US dollar in a secure, shallow file - not in a pocket. You can change cash at the bank in the city centers and at most large airport locations, which include Yangon, Mandalay, Nay Pyi Taw, Bagan and Thandwe (for Ngapali Beach).
You can also visit the beloved and centrally located Bogyoke Aung San Markets (Scott Market) in Yangon if you want to exchange currency at the weekends - here you will find many currency exchange businesses (these usually close at 3.30 to 4.00 pm). Up until the recent reform of Myanmar's governance, it was necessary for Myanmar residents to exchange funds on the subprime markets in order to obtain an appropriate exchange rate.
That is no longer the case; you can now get a good exchange rate at your bank and get your change of currencies. Road change should be obviated as they are likely to cheat you. Not surprisingly, the exchange rate is volatile; see our Currencies wizard at the bottom of this page.
Whereas once they had to provide the necessary money to travel to Myanmar, today there are over 600 ATM' that accepts global debit and credit card transactions throughout the nation - although most of them are based in Yangon, Mandalay, Nay Pyi Taw, Bagan and Inle Lake.
Card holders can also cash in cash machines and use their credit card at a rising number of large points of sale such as banks, shops and retail stores. At present, only Visa, Mastercard (Maestro/Cirrus), China's Union Pay and Japan's JCB can be used; the largest suppliers of compliant cash machines are CB (Co-operative) Bank and KBZ (Kanbawza) Bank.
The AGD and the AYA and United Amara are the other two. You can make several daily cash outs according to the terms that your own home savings institution sets. Use of ATMs in Myanmar is sometimes limited by an outage of the web. Currently, there are no multinational financial institutions in Myanmar, and municipal financial institutions are in the midst of becoming part of the multinational financial system.
The KBZ Bank has a nationwide ATM system that accepts Visa, Mastercard, Union Pay and JCB. Sites in Yangon are Yangon International Airports, Bank Street (downtown), Junction Square and Taw Win Centre malls and many City Mart malls. KBZ has cash machines in all large towns and touristic places outside Yangon.
We also have ATM machines that accepts Visa, Mastercard, Union Pay and JCB in the main centers throughout Myanmar, with many in Yangon. This includes Yangon International Airports ATM machines and large retailers such as Junction Square, Junction Centre, Taw Win Centre, Yankin Centre and Bogyoke Market. In Yangon Hostels with Visa Acceptance ATM' CBs are Chatrium, Inya Lake, and Governor's Residence.