Myanmar chat is the currency of the state of Myanmar. What kind of money is best to take with you on vacation to Burma (Myanmar)? Coins and banknotes

Kyat (pronounced "cha" or "chat", international symbol - MMK, domestically - Kt), nominally equal to 100 pya. There are banknotes in circulation in denominations of 100, 200, 500 and 1000 kyat and 90 pya, as well as coins in 1 kyat and 1, 5, 10, 25 and 50 pya. At the same time, there is a lot of confusion in the banknotes in circulation - you can find banknotes of 100 thousand kyats (the so-called "lah"), and 10 million kyats ("crores") and other Bank of Burma banknotes of various years of release.

In large cities you can almost freely pay in US dollars. However, $100 banknotes of the CB series issued in 2001 are not accepted for payment, there is a clearly undervalued exchange rate for certain series of banknotes from older issues, and in some places they refuse to accept new but wrinkled bills for payment.

Banks and currency exchange

Banks are open from 10.00 to 14.00 from Monday to Friday.

Currency exchange can be made in banks, hotels, travel agencies and official exchange offices (bureaux de change, located only in Yangon and Mandalay, open daily except Sundays from 10:00 to 14:00), accepting US dollars, euros and Singapore dollars. The rate is the same in all exchangers and is set every day by the Central Bank of Myanmar. Banks urge tourists to hand over only “fresh” banknotes, that is, without stains, scuffs and various stamps. To exchange, you must present your passport.

Upon arrival, you can also exchange currency for checks of the Central Bank of Myanmar (Foreign Exchange Certificate or FEC), which are formally equivalent to the US dollar (equivalent to US$20, 10, 5 and 1), but are circulated on a par with the national currency, which is much cheaper than the dollar. Typically, an exchange for an amount of $300 is required, while the reverse exchange of checks into dollars is carried out with a large commission (up to 15%) and only within the previously declared amount. At the same time, the US dollar, officially prohibited for circulation in the country, is accepted to pay for goods and services almost everywhere.

Credit cards and traveler's checks can only be cashed in large banks, shops and hotels in the capital of the country, and then only irregularly and subject to a huge number of formalities. In the provinces it is almost impossible to pay with them. At the same time, in some cases, travel checks in US dollars can be exchanged for kyat much more easily than cash, although, as in the case of cash currency, reverse exchange is difficult (in most banks the amount is limited to 25% of the original amount).

To avoid additional exchange and cashing costs, it is recommended to carry traveler's checks in US dollars, euros or pounds sterling. The best option is to have a sufficient amount of cash with you, preferably in small bills.

vi2002 | Spring 2014

alexanderyork | spring 2015

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The issue of means of payment when traveling to Myanmar can be very acute. Although prices in the country are very low, there are many problems with currency exchange.

In addition, the country has many rules for the circulation of money supply, which in practice are constantly violated, and it would not hurt a tourist to know about this.

Kyat to ruble exchange rate

Money of Burma: the official side of the issue

The monetary unit of Myanmar is called kyat (consisting of 100 pya). In circulation there are both banknotes in denominations from 1 to 5000 kyat, and coins (from 5 to 50 pya and from 1 to 100 kyat). The banknotes are designed with images of architectural and art monuments of Myanmar, as well as pictures of traditional activities of the population.

It is almost impossible to pay by card in Myanmar, only in the largest hotels, restaurants and shops. There are also very few ATMs, and none at all in the province.

Currency needs to be changed at banks and exchange offices. When entering the country, a tourist must exchange 300 dollars for National Bank checks, which are circulated on a par with national money and at a very unfavorable rate.

In general, currency exchange in Myanmar is not a very profitable activity, since the state sets an inflated exchange rate, and reverse exchange is limited and very reluctant.

And unofficial too

Burmese money is actually quite cheap; One hundred dollars represents an impressive amount in the country. But you can exchange currency at the real rate only on the black market. This is prohibited by law, but such exchanges are still very common.

The circulation of the dollar is also prohibited by law, but American money is universally accepted as payment for any goods and services. Therefore, it is best to go to the country with dollars, both in cash and in small bills. You can also exchange baht, euros and pounds, but the rest of the currency is unlikely.

Finally, the currency of Myanmar also demonstrates confusion in denominations, since banknotes of 100 thousand kyats can still be found in circulation. Although officially they shouldn’t exist.

But the most pleasant thing is the fact that all basic goods and services are cheap in Myanmar. So you won’t need a lot of currency to travel to this country.

– Myanmar Kyat (MMK, code 104).

The kyat exchange rate to the ruble and other currencies can be viewed on the currency converter on the right.

1 Myanmar kyat is equal to 100 pya.

There are banknotes in circulation in denominations of 1, 5, 10, 20, 50, 100, 200, 500, 1000 and 5000 kyat, as well as coins in denominations of 5, 10, 25, 50 pya; 1, 5, 10, 50 and 100 kyat.

Myanmar kyats look like this:

In addition to the national currency, American dollars are widely used in Myanmar. In large cities they can be used almost freely to pay for purchased goods and services. However, for some reason, 100-dollar banknotes of the CB series issued in 2001 are not accepted for payment, and for certain series of old banknotes or for crumpled new bills, a clearly reduced exchange rate is set.

Currency exchange in Myanmar

When entering Myanmar, a foreigner is required to exchange at least $300 for checks from the Central Bank of Myanmar (Foreign Exchange Certificate), which circulate on a par with the national currency and are equivalent to it (although kyats are much cheaper than dollars). Reverse exchange is possible only within the limits of the originally exchanged amount and with a large (up to 15%) commission.

You can exchange currency in Myanmar at hotels, travel agencies, banks and official exchange offices ("bureaux de change") at a clearly reduced rate, or at the normal rate on the “black” market. The latter option is illegal, although it is widely practiced.

In addition to the dollar, you can quite easily exchange euros in Yangon, and baht at the Thai border. It is almost impossible to exchange all other currencies.

Banks in Myanmar are open from Monday to Friday from 10.00 to 14.00.

There are no ATMs in the country.

You can pay by credit card only in the most prestigious hotels and largest shops in Yangon. In the rest of the country, credit cards are not used.

I think to start with the fact that there is no point in going to Burma with cards at all, with only one exception (more on that below). Despite the fact that not so long ago Visa and MasterCard entered into an agreement with the government of the country on work, ATMs have not yet appeared. She can only help you if, God forbid, you get robbed. In this case, you can take her to any of the fashionable hotels in the city, such as Grand Plaza, Traders or Sedona, where you can ask for cash advance. In this case, they can transfer money to you (several Western banks do this), but in this case you will lose at least 10-20% for hotel services and plus 20-30% interest for the bank transfer from the first hundred dollars (the larger the amount, the less commission). It’s better to check which banks make transfers to Myanmar first on Google, they may change.

As for the national currency, in Burma it is called either kyat or cheyat. To be honest, I still don’t understand exactly how, and that’s why she will appear in the story as kyat. I like it better this way. I’ll say right away that upon arrival in Yangon, you shouldn’t run to the exchange office. Taxi drivers, as well as merchants, are very willing to accept dollars. So stock up on small dollar bills.

And now about the most interesting part. About currency exchange. Don't change dollars at banks. Yes Yes! You heard right! Just don't change it. The thing is that banks exchange dollars for kyat at the official rate, which differs from the real one not just by several times, but by orders of magnitude! At the time of my stay, the official exchange rate was 8 kyat per dollar, while on the black market it was 800-900 kyat. Feel the difference... Of course, on the black market there is a chance that you will be deceived, but you must admit, the difference is simply wild. To at least somehow protect against fraud when exchanging with money changers, I advise you not to change money on the street. It's best to contact merchants. They have nowhere to run, so the likelihood that you will be “dumped” is small. The most favorable exchange rate in Yangon (the capital) is offered by traders at the central market, not far from Sula. If you really don’t want to deal with street money changers, change money in hotels. As a rule, there are exchangers at the reception. True, even here the rate will be lower than what street figures can offer you.

I advise you not to change a lot of money at once. It is better to change 100-200 dollars at a time, no more. Firstly, the exchange rate fluctuates, and secondly, changing it back is extremely problematic and not profitable. I note, by the way, that the larger the amount exchanged, and the better the bill looks, the better the exchange rate. Yes Yes! And this also depends on the condition of dollar bills. They really love new green pieces of paper that smell like machine oil.

I also don’t recommend taking euros or the currencies of neighboring countries with you. In 90% of cases, the exchange rate for these currencies is simply taken out of the blue.

As for prices, Myanmar, in my opinion, is the most expensive country in Southeast Asia. The cost of living is at least twice as high as in neighboring Thailand or Vietnam, not to mention Cambodia. If in the latter you can find accommodation for 5 dollars a day, then in Burma it will be at least 10. Bus tickets between cities cost an average of 20-25 dollars, and eating in a restaurant will cost 4-7 dollars per person.