Exchange Baht In Burma? Rates?

[Scamp]

I am going to visit Burma for a couple weeks and don't have enoguh US dollars to last the trip.

Should exhcange Baht to Kyat when I get there or buy $US with Baht here then change $US to Kyat.

The later seems like I get gouged twice on comminsions.

Rates

And can anyone shed light on the Baht - Kyat exchange rate? Posts on this board put it around 1B = 22K official, or 1B = 44K black market.

But http://www.oanda.com currency converter (and others) puts it at only 1 Baht = 0.16016 Myanmar Kyat !

What's wrong with this picture

[sabaijai]

Change baht to dollars before you go. It's very difficult to find anyone willing to buy baht in Burma, and when you do find the rare person that will, you'll be lucky to get even 50% of the baht's value vis a vis USD, GBP, etc.

The kyat rate fluctuates day by day, I think right now it's running anywhere from 700 to 1000 kyat per USD.

There are no longer licensed moneychangers in Burma, so all changing is done on the black market. Shops are a good place to change money, Bogyoke Market in Yangon also.

You may also have heard about FECs, well these are no longer used either. There is no requirement to change money on arrival.

Dollars must be used to pay for hotel rooms and air tickets.

[Scamp]

Well that stinks of course but thanks for the info.

Has anyone had in other experience exchanging Baht for Kyat?

Where is the best place in Chiang Mai to buy $US with my Baht or Credit Card?

There is a post on this board about "David's" visa run to Burma and he mentions he would bring $US next time but he didn't make it sound that impossible to use.

Anybody else?

thx

[sabaijai]

SK Money Changer, on Charoen Prathet Rd near the Diamond Riverside Hotel, is the best place to change money in Chiang Mai.

I hope someone else corroborates the uselessness of baht in Burma. But if not, trust me, I've been going once or twice or more times per year since 1986. Baht's a non-runner. Maybe one in 40 people you meet will accept it, but even then you will lose a lot. It will be much, much easier to change money here anyway than in Burma. There it's something of a headache every time. Best to go equipped with cash dollars.

I went with a Japanese friend on my last visit a few months ago and she was shocked and insulted that no would accept Japanese yen -- and yen is a heck of a lot more convertible on the international market than Thai baht.

[Guest IT Manager]

I paid my first Hotel Bill, in Burma, with baht.

It is not actually correct to say the above.

Have a look at the thread on Myanmar Visits, or PM me for the facts.

IT

[sabaijai]

ITM, when were you in Burma last, and which hotel accepted your baht?

Only US dollars are legally accepted for payment of hotel bills in the country. Perhaps a few places in Yangon might accept baht for payment, under the table, but I'll bet not at US dollar parity.

At any rate, why risk a potentially lower exchange rate or an illegal hotel transation, when it's much more expedient to change baht for dollars here in Thailand before you go? I don't get it.

Like I said, I was there a couple months ago and couldn't find anyone who would accept baht at better than 50% of its US dollar value here in Thailand. And not a single hotel I stayed in would accept any currency other than US dollars (or, during the FEC era, FEC, which could be exchanged one-to-one for US dollars). That has been the policy for almost a decade now.

If others have had differing experiences, well all I can say "it's not exactly correct" either ...

[sabaijai]

I read the Myanmar visa run feature and note that you wrote

Prices are generally given in US Dollars, and having now done the trip once, I will take US Dollars into the country, not baht.

The feature dates to Oct 03. Very curious as to where you found someone in Burma who would give you a 44B/US$1 rate, when the exchange rate on the international market in Sep 03 was 1 US Dollar = 40.14300 Thai Baht.

At any rate, if you can get even close that rate, that's good to hear. I don't suppose you'd like to share your moneychanging source with the rest of us frequent Burma visitors?

[OzBanChang]

I changed 5000 Baht at Scott Market 2 days ago, and got 20 Kyat per Baht, so it's certainly doable. The dollar rate at the time was about 840 Kyat, so you do the math.

You will need some USD, as it costs $10 to leave the country, and they won't accept anything else, and some restuarants in yangon price in USD, and give a pretty bad rate if you try to pay in Kyat.

Also, I just found out that it's possible to get a Tourist Visa for Myanmar online, although I haven't tried it yet. The site is www.visa.gov.mm - has anyone tried this yet?

[sabaijai]

Oz, that works out to 42B per dollar, above the rate here in Thailand! So I guess my most recent experience was an anomaly, seeing as how both you and ###### got decent rates.

Looking back, I only asked once or twice in Yangon, though I thought I did try Scott Market. It was Mandalay where I really got a run-around. Went to at least six changers and only one would take baht, and at 50%. Perhaps Yangon is the one exception?

At 20 kyat per baht, I'd reverse my earlier advice and suggest taking baht to exchange for kyat, then changing the kyat back into dollars ...

[phazey]

The rate today is Ks835 for the $1 but the more you exchange the better rate. 835 is based on $100 being changed.

I'd advise against paying with the Kyat at hotels - keep it for touristy/local stuff. Some of the smaller hotels quote in Kyat only (as a combat against the past bank problems) so always get a double bill in USD/KY and then decide.

Buying Dollars is also quite hard if you buy with Kyat.

./P

[cbatson]

There's plenty of people in the Bojyoke Market in Yangon who will trade Baht for Kyat. Have a local take you. Or, your guest house can change it for you.

Chuck

[Guest The Judge]

I use a local Taxi driver on my quarterly trip. Usually gets between 840 and 900 per dollar.

Bear in mind I am very kenio, but go up every 3 months becaue I am over taking takshit. It works nicely.

Judge

[swe]

well,

let me explain sth. It is better to keep money in US$ than bahts bcoz it is not easy to sell baht than US$ in myanmar. If you sell baht, the buyer will pay very less, too.

The normal way for a Myanmar to get kyat from baht is that there are some exchanger agents that we can pay baht here and they will sent kyat to home in yangon. so this way, if you are foreigner you can't do. do not assume that you will have to pay double commision from baht to change to kyat. if you can not sell baht or selling baht with low rate, it is better to be more convenient having $ for you. right?

MS

[Guest IT Manager]

I also go every 3 months, last time in January. Rate was around 850.

Hotel was Beautyland 2, no problems. Most want to be paid in dollars, no credit cards, but the bookshops are happy with Kyatt.

I am going again in April. Wil update then.