The official currency is the Kyat (MMK) pronounced 'Chat'. The best currency to travel on in Myanmar is the US Dollar. The Foreign Exchange Certificate (FEC) is a legal currency for visiting tourists that is usable in government shops and hotels. It is no longer a requirement to convert US$200 into FEC upon arrival in Myanmar. One FEC is equivalent to one US Dollar. It is recommended to use US Dollars. It is difficult to cash American Express travellers cheques in certain cities, such as Mandalay, and even when it is possible the commission can be as high as 10 percent. US Dollar notes will not be accepted if they are damaged or torn in any way, or have pen marks on them. There is a big difference between the official and unofficial exchange rates in Myanmar; street moneychangers offer favourable rates at hotels and Scott Market. As a rough guide, the black market rate is in the region of US$1 = MMK 1000 - a dramatic difference when compared to the official government rate. Of course, using the black market is risky. Very few major hotels, airlines, shops and restaurants accept credit cards and ATM cards can rarely, if ever, be used. It is advisable to carry cash. Banks are closed on weekends.
Currency Exchange Rates
|Myanmar||MMK 100||MMK 1,000||MMK 10,000||MMK 100,000||MMK 1,000,000|
|Australia||A$ 0.11||A$ 1.09||A$ 10.91||A$ 109.08||A$ 1,090.75|
|Canada||C$ 0.10||C$ 1.04||C$ 10.35||C$ 103.54||C$ 1,035.43|
|Ireland||€ 0.07||€ 0.72||€ 7.22||€ 72.16||€ 721.60|
|New Zealand||NZ$ 0.12||NZ$ 1.19||NZ$ 11.89||NZ$ 118.94||NZ$ 1,189.43|
|South Africa||R 1.12||R 11.20||R 112.00||R 1,119.99||R 11,199.92|
|United Kingdom||£ 0.05||£ 0.51||£ 5.10||£ 51.03||£ 510.26|
|United States of America||US$ 0.08||US$ 0.78||US$ 7.77||US$ 77.70||US$ 777.00|
Note: These currency exchange rates are not updated daily and should be used as a guideline only.
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