Best Currency To Bring With You For Your Trip To Yangon

[Siriam]

Hi Guys,

Does anybody know which is the best currency I should choose to bring with me for my imminent trip to Yangon? Can I maybe just go there with Thai Baht or it is better change them here in Thailand in Dollars or Euros? (or anything else)

Thanks for your help

Edited June 13, 2012 by Siriam

[Winston888]

The best currency to take with you is US dollar. They are the easiest

to change into the local currency of “Kyat”, although Pound sterling

and Euros are also accepted.

You will get the highest exchange rate with higher denominations like

50 dollar and 100 dollar bills. But also take with you one dollar and

five dollar bills to settle low purchases and taxi fares.

Make sure the notes are not creased, not folded, not faded and do not

have any pen or pencil marks as they will be rejected or the exchange

rate lowered ! I found this very irritating. You just have to accept it.

Bear in mind that hotels there are no longer cheap. The rates have gone

through the roof due to shortage of tourist accommodation.

[Siriam]

Thanks a lot for your detailed answer, I'm buying the dollars in Thailand and they normally place a small blue stamp on every banknote, do you think that is going to be a problem ?

[Winston888]

I have never come across this small blue stamp, so to be honest I do

not really know. Certainly, bank notes with pen and pencil scribblings

are rejected. I know for certain that some private "unofficial" exchanges

accept marked bills at a lower exchange rate, roughly one to two per

cent lower.

Your best bet would be to have some unmarked currency, either Bahts

or Pound Sterling or Euros.

[tombkk]

When I changed THB into USD for my trip to Yangon last week, one of the bank notes had a blue stamp. I rejected this right away, saying that I go to Myanmar, and the cashier handed me a clean bill.

[ricardofel]

SCB has no marks on any of their US bills....any denomination. Put your bills in a thin cardboard envelope so they stay mint. Any marks, creases, anything will detract from your exchange rate. Banks also give decent rates, only a few kyats difference. Bogyoke Market rates are 870-875 for $100 bills...I just returned!

[Halfaboy]

SCB has no marks on any of their US bills....any denomination. Put your bills in a thin cardboard envelope so they stay mint. Any marks, creases, anything will detract from your exchange rate. Banks also give decent rates, only a few kyats difference. Bogyoke Market rates are 870-875 for $100 bills...I just returned!

Would this also be true for other denominations as i.e. Euro's etc ?

[coodhi]

SCB has no marks on any of their US bills....any denomination. Put your bills in a thin cardboard envelope so they stay mint. Any marks, creases, anything will detract from your exchange rate. Banks also give decent rates, only a few kyats difference. Bogyoke Market rates are 870-875 for $100 bills...I just returned!

Would this also be true for other denominations as i.e. Euro's etc ?

Present US$ rate to Kyat is 852, sinking feeling!

[SeaVisionBurma]

Rates always fluctuate between tourist season and monsoon.

Peak tourist season right now so it is completely normal the kyat has strengthened to 850, from 875 in July.

Nothing to read in to.

Sent from my ALCATEL_one_touch_918D

[Halfaboy]

Slightly up when compared to March this year. See attached picture I took from a display outside a bank in opposite the Diamond Shopping centre in Mandalay.

[bangkokburning]

We had no problem changing thb in Scott market. Similar rate to usd and witbout the bloody hassle of bullshit hell.regarding pristine us notes. I have never experienced such nonsense from money changers in my life!

[JurgenG]

The best currency to take with you is US dollar. They are the easiest

to change into the local currency of “Kyat”, although Pound sterling

and Euros are also accepted.

You will get the highest exchange rate with higher denominations like

50 dollar and 100 dollar bills. But also take with you one dollar and

five dollar bills to settle low purchases and taxi fares.

Make sure the notes are not creased, not folded, not faded and do not

have any pen or pencil marks as they will be rejected or the exchange

rate lowered ! I found this very irritating. You just have to accept it.

Bear in mind that hotels there are no longer cheap. The rates have gone

through the roof due to shortage of tourist accommodation.

Last time I went to SuperRich near Thai Airways, they had a special rate for "clean" US bank notes.

I was last month in Myanmar and I changed THB without problem. There was Thai people everywhere and I don't think they bother carry USD.

[Tomtomtom69]

These days you hardly need USD anymore in Myanmar as most hotels (all in my experience) will accept Kyat and since ATMs only dispense Kyat, there is little reason to bring USD anymore. Euros and Singapore Dollars can be exchanged in all the same places that exchange US Dollars and there is the added advantage that slightly soiled Euro and Sing Dollar notes are not rejected, unlike their USD counterparts. Additionally, no matter the denominations, you get the same high rate for Euros (1146) compared to the USD where you get lower rates for smaller denominations.

[SeaVisionBurma]

These days you hardly need USD anymore in Myanmar as most hotels (all in my experience) will accept Kyat

I must disagree with this, and would not be too quick to give out this statement as advice.

While other currencies (Euros etc) are accepted at major banks and some hotels now - US Dollars should still be the prime currency choice to bring in to Myanmar, for a couple of key reasons:

1. ATM's, while available now in limited numbers - have not yet been functioning reliably for a long period. I am hearing of problems even this week with ATM's out of order, unable to establish a comms links to bank, and giving out small maximum amounts in one transaction. Do not rely on ATM's as your sole source of cash.

2. In Yangon, but especially so in smaller towns and regional areas - the US dollar is still the most widely accepted foreign currency. In many smaller towns and tourist destinations - USD are still the ONLY accepted foreign currency.

I advise all travellers to Myanmar to still have sufficient funds in clean, crisp US currency. Bring other currencies and/or your ATM cards by all means - but do NOT rely on them solely.

This will change and improve in future, but for now it is still too soon to advising that you hardly need USD any more.

SVB

[Tomtomtom69]

Sorry - I think I jumped the gun a bit when I said that for Euros and Sing dollars (and in markets for other currencies) that the rate they give you for small and large notes is identical. This is incorrect - at some banks and moneychangers this may be the case but at others, such as CB bank, Mawlamyaing branch, the rates vary as follows: For Euros, they were offering 1098 for 5-20 notes and 1106 for 50-500 notes. This should not be a problem since most travellers are likely to carry 50 Euro notes anyway. For Sing Dollars its a similar story.

I withdrew money from ATMs both in Yangon and Mawlamyaing no problem. You could also always try to get a cash advance if all else fails. While I must agree partly with you SeaVisionBurma, I am trying to wean myself off the USD and more towards other currencies. The strategy I use for managing money in Myanmar these days is as follows:

Arriving from Thailand and visiting border areas only: I would only bring Baht BUT I would also bring 1 crisp $10 note for the visa-on-arrival. This is one case where US$ are a must as I wouldn't be dumb enough to pay 500 Baht like some first time tourists, which is way more than $10. The official fee is $10 for entry at Myawaddy, Tachileik and Kawthoung and this is what I pay everytime I cross (recently I've only crossed at Myawaddy though). This is irrespective of how many days you are permitted to stay in these areas. For Shan State and Kawthoung I believe it's 14 days and for Myawaddy only a day trip, but this will change shortly.

Arriving into Yangon or Mandalay: I would bring say $100 or $200 in different denomination US$ notes, preferably small notes. For hotels in major cities such as Yangon, Mandalay and Bagan, I would book and pay in advance online via Agoda or another booking agent. For other cities, I would pay in Kyat at the prevailing exchange rate. Although I have heard of travellers not being able to pay in Kyat and told to pay in US$, I have had no problems although one hotel gave me a poor exchange rate but on the other hand, another hotel gave me a favorable exchange rate so I saved money by paying in Kyat.

For exchange purposes other than $100 or $200 or so dollars in small bills I would bring in Euros or Singapore dollars in medium denominations for exchange - anything else I would withdraw from the ATMs. I'm not sure what the fuss is about ATMs in Myanmar, they worked just fine for me not just in Mawlamyaing but also in Yangon. A number of banks have ATMs now (at least 3 different banks, but the best and most reliable seems to be CB bank). For peace of mind, use an ATM inside a bank so they can help you if your card were to get stuck.

[SeaVisionBurma]

I withdrew money from ATMs both in Yangon and Mawlamyaing no problem. You could also always try to get a cash advance if all else fails. While I must agree partly with you SeaVisionBurma, I am trying to wean myself off the USD and more towards other currencies.

I understand that you may be trying to wean yourself off USD$ - but please keep in mind that a lot of readers seeking advice here have never been to Myanmar before - and it would be better to provide advice that covers all bases for all types of visitors. From reading your numerous recent posts - I can see that you have some experience in Myanmar, and the advice you are giving might be suitable for you - all well and good for your particular situation

The official fee is $10 for entry at Myawaddy, Tachileik and Kawthoung and this is what I pay everytime I cross (recently I've only crossed at Myawaddy though). This is irrespective of how many days you are permitted to stay in these areas. For Shan State and Kawthoung I believe it's 14 days and for Myawaddy only a day trip, but this will change shortly.

I have just done a trip into the islands, entering through Kawthoung, and returning several days ago. Received a 28 day visa on the 19th Feb, valid until 18 March. Fee was $30. Lets stick to posting up to date information on where you have been recently - not where you haven't.

Cheers

SVB

[Tomtomtom69]

I withdrew money from ATMs both in Yangon and Mawlamyaing no problem. You could also always try to get a cash advance if all else fails. While I must agree partly with you SeaVisionBurma, I am trying to wean myself off the USD and more towards other currencies.

I understand that you may be trying to wean yourself off USD$ - but please keep in mind that a lot of readers seeking advice here have never been to Myanmar before - and it would be better to provide advice that covers all bases for all types of visitors. From reading your numerous recent posts - I can see that you have some experience in Myanmar, and the advice you are giving might be suitable for you - all well and good for your particular situation

>The official fee is $10 for entry at Myawaddy, Tachileik and Kawthoung and this is what I pay everytime I cross (recently I've only crossed at Myawaddy though). This is irrespective of how many days you are permitted to stay in these areas. For Shan State and Kawthoung I believe it's 14 days and for Myawaddy only a day trip, but this will change shortly.

I have just done a trip into the islands, entering through Kawthoung, and returning several days ago. Received a 28 day visa on the 19th Feb, valid until 18 March. Fee was $30. Lets stick to posting up to date information on where you have been recently - not where you haven't.

Cheers

SVB

Sorry - I didn't realize that the fee for entering at Kawthoung had changed to US$30 but at the same time you now get a 28 day visa - previously it was 14 days and when I last entered there only 3 days. Was this 28 day visa just a stamp like you get at Myawaddy and Tachileik? And how far can you travel inside Myanmar on such a visa obtained at Kawthoung (at this point in time)? Do you have to fly or take a boat north of Kawthoung to reach Yangon?

I am currently in Myanmar - just paid for my Yangon hotel in Kyat, got the usual US dollar exchange rate of 860 (and also made another ATM withdrawal from CB bank, this time back in Yangon). I guess the point I am trying to make SVB is that due to the fact that there are now an increasing number of ATMs, none of which existed even 4 months ago, resulting in fewer people needing to come in with cash is probably why you can expect more and more places to accept Kyat unanimously. As mentioned I have so far yet to encounter a place that wouldn't accept Kyat.