Changing Money for Burma

[Cuchulainn]

Can anyone please tell me which would be cheaper:

a. changing THB into USD at Don Meuang and then the USD into Kyat at Rangoon airport or

b. changing THB directly into Kyat at Rangoon airport?

I know the USD is a strong currency and is recognised as such in Burma, but changing THB to USD then to MMK involves 2 conversions. Option b. involves only 1 conversion but how is the THB rated abroad?

Anyone?

Thanx

[ubonjoe]

Moved to the Myanmar forum

[phuketrichard]

I always take $$ an change at the airport when i fly into Mandalay.

i keep half my $$ in dollars ( most hotels accept both but prefer $$) an half in Kyat

I did once use 1 1,000 baht note and the exchange in country was bad

AS to cheaper....

[Kiggs]

Morning,

Lived in Yangon for two years. Some of the larger hotels will even take Visa payments and the ATMs seem to always work these days.

I would only bring USD as Thai Baht can get a ruff exchange rate. Change it at the airport the rates are the same all over the place. You can keep some USD just in case but its not a must. I only use Kyats unless im drinking in Sedona.

Have a good time and DON'T EAT THE STREET FOOD

Dan

Edit:

Forgot to say, i don't even think you can change Thai Baht at the airport i have only seen the back street changers taking THB.

Edited January 31, 2015 by Kiggs

[Cuchulainn]

OK thanks folks. Looks like USD it is then!!

Chay soo tin ba day!!

[Chillout101]

Sunflower hotel gives very good rate on baht, both for usd and kyat.

[Tomtomtom69]

Morning,

Lived in Yangon for two years. Some of the larger hotels will even take Visa payments and the ATMs seem to always work these days.

I would only bring USD as Thai Baht can get a ruff exchange rate. Change it at the airport the rates are the same all over the place. You can keep some USD just in case but its not a must. I only use Kyats unless im drinking in Sedona.

Have a good time and DON'T EAT THE STREET FOOD

Dan

Edit:

Forgot to say, i don't even think you can change Thai Baht at the airport i have only seen the back street changers taking THB.

Things have changed. Nowadays there are plenty of official money changers, including reportedly at both Yangon and Mandalay airports that will exchange currencies like Baht at good exchange rates. Since the land borders opened I've only ever gone into Myanmar by road so haven't flown to Yangon since April 2013, but even back in October 2013, a great money changer right behind the Thai embassy, just off Pyay road exchanges Baht and a host of other major currencies at GREAT exchange rates, in addition to the usual USD, SGD and EUR the banks are permitted to exchange. The main bank money changer at the airport does USD/SGD/EUR, just like all the other banks in the country. So if you insist on not bringing Baht, you could certainly bring EUR or SGD, which are just as good (if not better) than USD because unlike USD their condition won't be scrutinized as much and it's just as easy buying EUR or SGD than USD, enough with this stupid USD obsession there are other major currencies out there too.

If you were to enter the country overland, bring ONLY Baht. Because you can get excellent exchange rates for Baht to Kyat transactions on both sides of the border and in fact I don't even know if the market in Myawady or Tachilek will exchange USD, because almost nobody deals with USD or other currencies there. On the Thai side they will change all major currencies but then you would be getting Baht first, which defeats the purpose. Only the banks in Myawady/Tachilek do USD/EUR/SGD, but most people deal with the street money changers as the banks are very new and don't appear to deal with foreign exchange...yet. In Mae Sai, a very good money changer near the border will sell you Kyat at great rates, but funnily enough most people in Tachilek prefer Baht. However, it still pays to bring Kyat and just get the locals to use them as the ATMs in town there will give you only Kyat anyway.

However, the vast majority of foreigners, whether tourists or business people will be flying into Yangon or Mandalay, with only a trickle heading across the land borders with Thailand hence it won't be difficult for them to exchange money once they get there, whether it's USD, EUR, SGD, THB, CNY, AUD, CHF or another major currency.

ATMs didn't exist before 2012 but nowadays there's probably well over a 100 in Yangon alone, the best ones for foreign cards seem to be KBZ and CB Bank and they work. If one doesn't, try another one nearby. However, I haven't had any problems even in towns with just one ATM.

I don't even live in Myanmar but know all this. It's easy enough to see once you've been there just once although I'm a regular business traveller to the country.

[Tomtomtom69]

OK thanks folks. Looks like USD it is then!!

Chay soo tin ba day!!

Well I'd say unless you are one of these inflexible travelers that can't bare the thought of having to catch a taxi to find a place to exchange Baht, then OK. But you could equally also bring EUR or SGD as they are equally accepted for exchange like USD and less likely to be scrutinized. The main bank money changer at Yangon airport will happily take all three currencies, although I do believe a new money changer takes more currencies including Baht.

Otherwise, just hit the ATMs, as I always do. Much easier than sorting lots of cash before travelling.

One money changer in Yangon is called Thein Phyu, just fyi.