Myanmar Exchange Rate KbzBurma Exchange Rate Kbz
CYAT ( "chat") is the Myanmar language. While guesthouses and smaller ones are still due in Kyoto, most of them are in $ and paid for. While high-end businesses still charge in US$, many places in Kyoto are now affordable. The best way to avoid exchange rate loss is to always make the payment in the indicated currencies.
They are spoilt for choices of bank drafts at airports and they all have practically equal exchange rate. Notice that you can convert your idle Kieat back to $ on sailings at a minimum (20 kyat?) spread between the buy and sell-rate. They are NOT an internationally convertable money and are unlikely to be exchangeable outside Myanmar, although you may be able to dump them at Bangkok Aiport or try to pass them on to prospective travelers from your own state.
You may be able to exchange other currency (£, AUS$, THB), but the number of banks they will exchange is very small and the exchange rate may be quite bad unless you are willing to invest your money in your purchases. Farmers Bank branch offices switch AUS$. Lately only one of the 9 banks in Yangon would be changing the THB - at a very bad rate.
Occasionally, when you are paying shopkeepers/taxis in $, you get changes in little filthy Khat that you want to give away quickly. It is still the preferred money for airlines, travel agencies, travel guides, top quality hotel and restaurant accommodation and for some admission charges. It is best to keep it new, maybe between two cards.
100s and 50s get the best exchange rate, so use lower denomination for the payment of hotel and restaurant - again the state is important. That $ is still royal and cabs, leaders and restaurant will still take it if there is a lack of Kie. Myanmar now has over 2000 ATMs with a selection of large airport locations and extensive city centre access.
They' re only spending Kie. While many smaller cities and cities do not yet have ATMs, those who have a bank in the city will either have one or will soon have one. Sittwe, for example, only has an ATM and until recently there was none at Ngapali Beach, but there is now an ATM (KBZ Bank) outside the Amata Hotel.
In some countries, there are still some banks that are still following the obsolete US ban, so please verify with your bank if your bank accepts your debit cardhold. A lot of top class restaurants, especially for corporate and group travel, accepts payment by banker. On the other hand, many touristic resorts and guesthouses do not take payment via banker.
A lot of Irish Island cruisers claim that credit cards are not acceptable, but there are reviews that when travelers say that is all they have after they have all their Kyoto and $, a ticket plane will appear wondrous. Due to the high charges for credit cardholders (up to 5%), many agents favor the bank transfer deposit with the remaining amount in $ on arriving in Myanmar.
Due to US restrictions, Myanmar's banks are not yet affiliated with the international bank wire system, so many businesses in Singapore or Bangkok have bank wire bank account. This also applies to the International Irrawaddy Cruise Societies. The situation is rapidly shifting, the funds can already be transfered from Western Union, and Myanmar Banking System will ultimately be linked to the international community and KBZ Bank and CB Bank are currently behind schedule to get it up and running.