myanmar (Burma) Money exchange and currency
Travelers should ensure they arrive in myanmar with some adventure budget portions in US dollars, as ATMs are quite famous in main cities yet very hard to realize some in smaller cities. The ATM machines are often installed in front of main hotels. The travelers be able to withdraw money in US$, SGD, and Bath Thai. Online payment is now accepted, too. Most of the online payment gateways are operated by foreign organizations with international secure standards. The processing fee is running from 3 – 5%. Despite those facts, burma is the country where “cash is king”. Every seller welcome cash and you should not rely on a single money source, keep some cash in your pocket in both USD and local Kyat.
- The US$ notes ought to be new.
- The US$ notes torn, marked, folded will not be accepted.
- The US$ notes having series before 2003 backward be able to not accepted.
- You are allowed to bring up to US$ 5000 in cash per person to enter myanmar.
Money changers are reluctant to deal with damaged notes at a outstanding lower rate. US dollars can be changed at Yangon airport, banks (which give the best exchange rates) and some hotels (which charge more but may be handy in a pinch). Black market money changers are prolific on the streets of major adventurer hubs, but generally, give a much worse price for KYAT.
Credit cards & travelers cheques
Some websites even permit Online payment by credit card with the high secure criterion. However, the processing fee is about 5.1%, rather higher than neighbor countries such as Thai land or Vietnam (about 3%).
Exchanging money in myanmar (Burma)
The $100 bill gets a slightly better exchange rate than a $50 or $20, and so on. And supposedly the exchange rate is marginally better early in the week (Monday or Tuesday). We’ve also been told that exchange rates sometimes fluctuate with poppy season too!
It’s safest to change money at banks, hotels, and shops, rather than on the road. The money changers standing around just east of the Mahabandoola Garden in Yangon possess a reputation for short-changing new arrivals for several thousand kyats.
Never hand over your money until you’ve received the kyat and counted them. Honest money changers will await you do this. Money changers give ready-made, rubber-banded stacks of a hundred K1000 bills. It’s a fantastic idea to check each note individually. Often you’ll see one or two (or more) with a cut corner or taped together, neither of which anyone will accept. We heard from some travelers that Yangon money changers contain asked for a ‘commission’.
tremendous travelers do the bulk of their exchanging in Yangon, where you could get about K100 more per dollar than elsewhere, then take the stacks of kyat for a couple of weeks around the country. Considering the relative safety from theft, it’s not a bad idea, but you can burma exchange money elsewhere.
Also, when paying for rooms and services in US dollars, check your change carefully. Locals such as to unload slightly torn $5 bills that work fine in New York, but will be meaningless for the sleep of your trip.
Spending money in myanmar (Burma) while travelling
At a pinch, shoestring travelers could get by on a budget of approximately US$40 a day for a cheap guesthouse (no aircon and dubious hygiene) in high season, get to on local buses and meals at local street food stalls and tea houses.
Travelers wanting access to air conditioned hotel rooms, meals at western-style restaurants and taxi rides should budget closer to $120 per day. Luxury hotels in Yangon and Bagan may be as expensive as anywhere in the western world.
Tipping as known in the West is not customary in myanmar. HIT burma encourages some tips for the citizen getting involved in your services if you find satisfied enough. The tipping is not compulsory though little extra ‘presents’ are sometimes expected (even if they’re not asked for) in exchange for a service (such as unlocking a locked temple at Bagan, helping move a bag at the airport or showing you around the ‘sights’ of a village).
It’s a splendid idea to keep some small notes (K50, K100, K200) when visiting a religious temple or monastery, as donations be able to be asked for. Also, you may wish to leave a donation.
