How to Use Money in Myanmar?

Myanmar is considered a good country in managing foreign currency. The money market is stable so when traveling to Myanmar, the use of US dollars or Kyats money in Myanmar is very easy. If you keep track of the dollar exchange rate with Kyats money in Myanmar you can see that it doesn’t change a lot in the long run.

When traveling to Myanmar, you should bring dollars with you to ensure it can be used to pay for all services. On the way to the airport, you can change a small amount of local currency (kyat) to use the small services. However, exchange rates at the airport or at state-owned banks are not good, often lower than the market rates. So you can use the small USD banknotes to use small services before changing to Kyats in Myanmar. General market exchange rate is around US$ 1 to 1,000 Kyats. Exchange counters are everywhere. If you go to Yangon or the new capital of Naypyitaw, exchanging money will not be a big deal for tourists. However, if you are an acquaintance using a card, you need to look for large transaction centers or banks. The reason is that in Myanmar, ATM are quite rare, the types of payment by cards in restaurants, supermarkets have not developed. The best way is to bring cash and you can feel comfortable because Myanmar is safe.

If you are traveling from Vietnam, you should not have more than $ 7,000 cash in your pocket because it would violate Vietnamese law. When you come back Vietnam from Myanmar, you should not bring Myanmar money and the amount of US$ should not be bigger than the amount you brought in the last time. The Kyats – Burmese currency - are available in denominations ranging from 1 to 5,000 Kyats. However, 5,000 Kyat note is rarely used. Often when you exchange money, you will only receive 1,000 Kyat notes or smaller ones. If you exchange $ 100, you will have to keep a large amount of small Kyat notes.

If you do not want to hold a large amount of money in your hands, you should spend US$. Most stores in Burma accept US$, but the money must be clean. Averagely, drink is at $ 2, food at $ 5. So with the exchange rate of $ 1 = 1,000 kyat, you're sure to have trouble carrying local money.

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