US Dollar vs Thai baht

[watgate]

I was told to bring US dollars to Myanmar but with the current strength of the US dollar in relation to the Thai baht, I am definitely leaning toward converting my US currency to Thai baht upon my arrival in Thailand the end of August. I am planning on taking a package tour with my g/f to Myanmar so I only need some extra spending money for incidentals and maybe a side excursion. If I did take Thai baht with me to Myanmar, would I have any problems converting it to Myanmar currency or using the Thai baht for purchases while in Myanmar. I not concerned about getting less for Thai baht vs US currency since I would not be spending a lot of money while there.

[NCC1701A]

Thais go to Myanmar all the time and they only have Baht. No USD at all. So no problem, but you may need to exchange from Baht to Kyat.

[craigt3365]

Every time you exchange money, you lose a bit. If you are coming with dollars, bring them with you to Myanmar. Change what you need there, what's left you can change back into Baht when you come back.

I've heard you need to be a bit careful with exchange rates in Myanmar. I get the best rates from ATMs and have a no fee card.

[Naam]

Every time you exchange money, you lose a bit. If you are coming with dollars, bring them with you to Myanmar. Change what you need there, what's left you can change back into Baht when you come back.

I've heard you need to be a bit careful with exchange rates in Myanmar. I get the best rates from ATMs and have a no fee card.

the best exchange rate you get in most shops. but of course no honest TV-member would engage in black market activities even if the profit is very high

[craigt3365]

I've done a few day trips across the border, but never traveled in the country. I'm hoping to do so in November. I'll keep an eye out for these nefarious shops! 55555

[onthemoon]

Every time you exchange money, you lose a bit. If you are coming with dollars, bring them with you to Myanmar. Change what you need there, what's left you can change back into Baht when you come back.

I've heard you need to be a bit careful with exchange rates in Myanmar. I get the best rates from ATMs and have a no fee card.

What card (which bank?) is that?

[craigt3365]

Schwab is one, the other is USAA. But I believe USAA charges a 1% foreign transaction fee. I prefer ATMs as I've been taken advantage more times than I'd like to remember at exchange booths!

[Naam]

I've done a few day trips across the border, but never traveled in the country. I'm hoping to do so in November. I'll keep an eye out for these nefarious shops! 55555

look for shopkeepers with "round" eyes speaking gramatically proper English

[phuketrichard]

Every time you exchange money, you lose a bit. If you are coming with dollars, bring them with you to Myanmar. Change what you need there, what's left you can change back into Baht when you come back.

I've heard you need to be a bit careful with exchange rates in Myanmar. I get the best rates from ATMs and have a no fee card.

i always get the best rate at Mandalay airport (3 times in last year)

u can look as there are a few money exchanges.

Take $$ on ur trip and just keep a few with you for Myanmar

Nice, crisp, unfolded 50, 100's

ALL thai's i have met always travel with $$$ not Baht to Myanmar ( they buy same like anyone)

Baht gets a lousy rate an other than right at the border will not be accepted for anything

Edited August 4, 2015 by phuketrichard

[Tomtomtom69]

Every time you exchange money, you lose a bit. If you are coming with dollars, bring them with you to Myanmar. Change what you need there, what's left you can change back into Baht when you come back.

I've heard you need to be a bit careful with exchange rates in Myanmar. I get the best rates from ATMs and have a no fee card.

i always get the best rate at Mandalay airport (3 times in last year)

u can look as there are a few money exchanges.

Take $$ on ur trip and just keep a few with you for Myanmar

Nice, crisp, unfolded 50, 100's

ALL thai's i have met always travel with $$$ not Baht to Myanmar ( they buy same like anyone)

Baht gets a lousy rate an other than right at the border will not be accepted for anything

I met a Thai in Yangon years ago who only brought Baht. Back then that was a bad idea as the US$ was basically the only currency you could change, with a few others being exchangeable on the black market (including Baht) at roughly 75% of what you were supposed to get. Elsewhere and in the countryside, almost impossible to exchange. Except of course along the Thai border. But back in those days the border crossings were closed except for limited travel in the border regions.

These days it's a different story.

First of all, the OP needs to let us know where he will enter the country. This will determine the currency to bring along. If he intends on entering overland, for example from Mae Sot to Myawady or from Mae Sai to Tachilek, bring ONLY Baht BUT exchange most if not all of it at the border. Or bring a combination of Baht and US$, Euros or Singapore Dollars. In Myawady, ONLY Baht can be exchanged. If a merchant agrees to exchange another currency (even USD), it can only be done during banking hours after numerous phone calls to establish the rate (and no, they won't know what it is because the USD is of no interest to them at the border) and is not worth the trouble. Baht are freely exchanged back and forth, but that should be clear given it's a border city. The only "merchants" interested in US$ in Myawady will be Myanmar immigration, who will take a US$10 note for the one day entry fee although they normally prefer 500 Baht. However, if the OP is crossing there with a visa (which is needed to leave the border area and travel inland), nothing needs to be paid to immigration, but a visa in advance is required.

If the OP intends to fly into Yangon, again, Baht can be exchanged at numerous money changers in town at good rates. BUT it is easier to deal with either US$, Euros or SGD. These three currencies can be exchanged at all banks including those found at the airport. Unless you're familiar with the city, having to seek out some money changer in town might not be the most interesting start to a business trip or holiday.

I think it's a similar story at Mandalay airport - only the three major currencies. I have found that the banks there are not always open though. In such cases, better exchange in town.

In border areas near China (Mong La and other towns controlled by the UWSA or other aligned factions) ONLY Chinese Yuan are accepted but fortunately, there is a market in Kengtung that can sell you Yuan in case you don't have any. Funnily enough in Tachilek opposite Mae Sai, most merchants are reluctant or even unwilling to accept Kyat and list all prices in Baht. This despite the town's 2 ATMs dispending only Kyat. When I asked about that I was told to withdraw Kyat and exchange them back to Baht at a money changer or the market. Yeah right.

If you need more local currency, head for an ATM. Maximum withdrawal at one time is 300,000 Kyat with a 5,000 Kyat fee added onto each withdrawal (much like at Thai ATMs when using foreign issued cards).

Edited August 4, 2015 by Tomtomtom69

[rak sa_ngop]

Every time you exchange money, you lose a bit. If you are coming with dollars, bring them with you to Myanmar. Change what you need there, what's left you can change back into Baht when you come back.

I've heard you need to be a bit careful with exchange rates in Myanmar. I get the best rates from ATMs and have a no fee card.

the best exchange rate you get in most shops. but of course no honest TV-member would engage in black market activities even if the profit is very high

The last time I was in Myanmar (Mandalay) the rates at the bank were better than the gold shops.

Don't assume anything in Myanmar.

[watgate]

I am not sure if we are going to be flying into Mandalay or Bagan first but will be flying into Myanmar with the appropriate visas. I guess I will take some US currency to convert to Kyat on an as needed basis. Can you get a good exchange rate at the airport or wait and go into a bank in one of the cities?

[phuketrichard]

cant fly international into Bagan ( that i know of)

YES,

[Naam]

Every time you exchange money, you lose a bit. If you are coming with dollars, bring them with you to Myanmar. Change what you need there, what's left you can change back into Baht when you come back.

I've heard you need to be a bit careful with exchange rates in Myanmar. I get the best rates from ATMs and have a no fee card.

the best exchange rate you get in most shops. but of course no honest TV-member would engage in black market activities even if the profit is very high

The last time I was in Myanmar (Mandalay) the rates at the bank were better than the gold shops.

Don't assume anything in Myanmar.

and don't use gold shops to exchange forex.