Street Money Changers

[cockerdoodledo]

Exceptionally careful at changing money in street ,they are clever very very clever at cheating, slight of hand as they handle your money and they accuse you of not handing over exact money,had 2 bust ups should have learned lesson first time but they offer impossible odds over the exchange rates give you their money then you give them yours only to find yours is not what you thought you had,then heated accusations I recovered from both only by threatening violence very very careful

[rak sa_ngop]

If they offer you rates higher than the going rate i.e. the rate that the taxi driver tells you as you drive in from the airport, you have to be suspicious of a scam. Much safer to find a shop that trades in imported goods and needs dollars to buy stock with. The guys (usually Indians) on the street around Scotts market are much too pushy and offer rates that are much to good to be believed.

Hasn't the government bank rate been equalised with the market rate yet? This was in the news recently.

[cockerdoodledo]

If they offer you rates higher than the going rate i.e. the rate that the taxi driver tells you as you drive in from the airport, you have to be suspicious of a scam. Much safer to find a shop that trades in imported goods and needs dollars to buy stock with. The guys (usually Indians) on the street around Scotts market are much too pushy and offer rates that are much to good to be believed.

Hasn't the government bank rate been equalised with the market rate yet? This was in the news recently.

Banks only US Euro ,....money changers ,yes Scotts is the place,The Indians are very crafty ,but push comes to shove will come up with the goods. Trade any currency you have too ATMS are there too,but do not know if they are domestic only

[Woodsie888]

Their most common trick, at least the street guys around Bogyoke Market / Traders is to offer a ridiculously high exchange rate which entices many. However they carefully fold many of the Kyats in half and so short change you. They are very good at this. Another way is for them to try and take your USD first to 'check for imperfections' . Some clever handwork and you're short changed. The honest one's are happy to change money in front of a Policeman. The bad guys try to hustle you into a quiet corner.

The easiest place to change is the Bank located at the front of Bogyoke Market. Their rate is always very competitive.

[DagonKhan]

There is never a good reason to change money with these people, ever. They are there (and have always been there) for tourists, just like Scott Market itself, it's rip off central.

There are loads of currency exchange places popping up all over, change your money there.

For future reference, here's the official exchange rate(s):- http://www.cbm.gov.mm/

If memory serves me correctly, currency changers are allowed 0.6% either way, i.e. if the rate set by the Central Bank is US$1 = Ks1,000, then you can buy Kyats at 994 and sell Kyats at 1006. The black market rate has pretty much mirrored the government rate for sometime now, there's little or no difference between the two.

[hyperdimension]

What is the current black market USD to MMK rate? The official rate is around 860, so I'm wondering how much better the black market rate is.

[DagonKhan]

What is the current black market USD to MMK rate? The official rate is around 860, so I'm wondering how much better the black market rate is.

Rule of thumb, about Ks10-15. Not worth worrying about unless you're transferring a lot, which if you were, you'd be using hondi anyway.

[coodhi]

If they offer you rates higher than the going rate i.e. the rate that the taxi driver tells you as you drive in from the airport, you have to be suspicious of a scam. Much safer to find a shop that trades in imported goods and needs dollars to buy stock with. The guys (usually Indians) on the street around Scotts market are much too pushy and offer rates that are much to good to be believed.

Hasn't the government bank rate been equalised with the market rate yet? This was in the news recently.

This is a similar scam pulled in Cambodia with Street ex chargers. Haha Desi Baba's are slick, they will sell the shirt off.

[coodhi]

Their most common trick, at least the street guys around Bogyoke Market / Traders is to offer a ridiculously high exchange rate which entices many. However they carefully fold many of the Kyats in half and so short change you. They are very good at this. Another way is for them to try and take your USD first to 'check for imperfections' . Some clever handwork and you're short changed. The honest one's are happy to change money in front of a Policeman. The bad guys try to hustle you into a quiet corner.

The easiest place to change is the Bank located at the front of Bogyoke Market. Their rate is always very competitive.

Why take a chance changing money with these slick Con's when you can easily go to a bank worry free? You can never win with these desperate dogs, best to let old dogs lay!

[rak sa_ngop]

Their most common trick, at least the street guys around Bogyoke Market / Traders is to offer a ridiculously high exchange rate which entices many. However they carefully fold many of the Kyats in half and so short change you. They are very good at this. Another way is for them to try and take your USD first to 'check for imperfections' . Some clever handwork and you're short changed. The honest one's are happy to change money in front of a Policeman. The bad guys try to hustle you into a quiet corner.

The easiest place to change is the Bank located at the front of Bogyoke Market. Their rate is always very competitive.

Why take a chance changing money with these slick Con's when you can easily go to a bank worry free? You can never win with these desperate dogs, best to let old dogs lay!

I have just returned from Mandalay. The bank at the airport was offering 840 kyat to the dollar, but doing no business.

I changed at a gold/jewellery shop in town and only got 820 kyat.

Later changed at another bank and got 845 kyat.

Moral of the story is that the banks are offering good if not better rates than the street.

[mitebbots]

My question is, how do I get new USD bills to bring? Last trip was tough with my VG to excellent quality bills.

I have been to several banks and none were able to get me new currency. needs to be new or like new.

[Mahseer]

I arrived 2 weeks ago and changed at the bank kiosk just to the right as you exit customs at Yangon international. 945 for $50 and $100 bills. I asked my bank in Chiang Mai, SCB, for new bills and they handed them over but obviously this does mean each and every bank has.

[SeaVisionBurma]

My question is, how do I get new USD bills to bring? Last trip was tough with my VG to excellent quality bills.

I have been to several banks and none were able to get me new currency. needs to be new or like new.

There are several places to do this - money changers are usually better than the banks in this case.

Super Rich money changers - main location is off Ratchaprarop near Big C (opposite Central World)

They will provide clean unmarked bills for a small additional fee.

They also have a new location inside MBK - not sure how big and whether they offer clean USD notes for Myanmar

There is another private money changer just near National Stadium BTS - on the street corner directly opposite MBK on the left side of Payathai Road (looking north). Think they are called Siam Exchange or Siam Rich. They specifically offer US currency for taking to Myanmar, again for a small fee based on amount.

[buffalobob]

I've changed money for years 24/7 without any problem down a rat infested alley just here...

http://goo.gl/maps/yNGj2

One time she short changed me by 500k and I never noticed. She gave it back next time. They will change anything as well £ ¥ € $

We are all in the gutter, but some of us are looking at the stars.

[rak sa_ngop]

On trip to Yangon last month I noticed that a money changer shop round the corner from the Thamada Hotel had a noticeboard showing daily rates. The even had a rate for "dirty, marked, torn " (or words to that effect) dollar bills which was equivalent to the 1-20 bill rate.

Whereas in Super Rich Bangkok you can request dollar bills for Myanmar and they will give you new notes, but you have to pay a premium. Not very much, about 0.05 or 0.1 baht per dollar if I remember .

But can you risk travelling with dirty money?

[Tomtomtom69]

I've changed money for years 24/7 without any problem down a rat infested alley just here...

http://goo.gl/maps/yNGj2

One time she short changed me by 500k and I never noticed. She gave it back next time. They will change anything as well £ ¥ € $

We are all in the gutter, but some of us are looking at the stars.

Next to the Thai embassy entrance for visa applicants off Pyay road there is a very good money changer that changes US$, Euros and S$ (of course, just like the banks) as well as AUD, JPY, THB, CNY, MYR and GBP all at good exchange rates, quickly and easily without ripping you off and without requiring any ID. If you are armed with any of these currencies, go there. It's getting easier all the time to exchange money in Myanmar, not to mention the increasing availability of ATMs now.

[wileycoyote]

• Good helpful posting