Money and Currency

The currency of Myanmar is the Kyat (pronounced Dschatt). There are only bills in circulation. Coins can not be found due to inflation actually. The bank notes are divided into units of 5000K (purple), 1000K (green), 500K, 200K, 100K, 50K and 20K.

Money exchange and exchange rates

Currently, only fully changed U.S. dollars, but the acceptance of the euro rises. It is recommended to use for exchanging only 100 U.S. dollar bills because you get the best exchange rates with them. U.S. dollar bank notes earlier 1996 and those having serial numbers starting with AB, BC, or CB as well as damaged (torn, wrinkled) banknotes are not suitable for exchange. Some banks have also automated teller machine (ATM). Maximum 3 x 300.00K per day may be withdrawn at ATM.

The exchange rates are significantly lower in hotels. It's advisable to exchange money directly at the Yangon airport. Note, the exchange rate in Yangon is best. Otherwise, the money can be exchanged in exchange offices at the Sule Pagoda, in banks (eg Bank AGB) or the Bogyoke Aung San Market, although many tourists have been there bad experiences. Money is not advisable to trade on the open road or in the aisles of the market, where you'll often asked, especially by Indians.

Dollar as payment

In the tourism sector, the U.S. dollar is often used as cash and many prizes, for example, train tickets, hotel stays or entrance fees are given in dollars. Travelers should always take dollars in small bills on a trip to Myanmar.

Credit cards, ATMs and Availability

Automatic teller machines (ATMs) are the exception, not the rule in Myanmar. In the end of 2012 announced the international credit card company MasterCard that withdrawing cash with MasterCard now available at 36 ATMs of Co-Operative Bank was possible throughout Burma - but there are 31 of these ATMs in Yangon. The other five are located in Mandalay, Bago, Mawlamyine, Taungoo and Pyinmana. Also VISA card and the Maestro network (with debit cards) should to be connected to these ATMs soon. When that happens, however, is open. Even if you can find an ATM, so there's no guarantee that you can withdraw money with your foreign credit card. Currently, tourists should definitely take cash with them and still follow the news coverage.