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Money

Toronto, Canada
Destination Expert
for Algonquin Provincial Park
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1,615 posts
1,149 reviews
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Money

From what i can understand US$ are accepted for larger bills like hotels but I am better to have kyats for day to day expenses like water, meals, local transport, use in small shops and vendors??

Should i exchange at the airport or are banks readily available in major towns.

I have read how bills must be new and no creases, do the bills have to be new or can some wear be present, can i fold the bill like i would normally>? Best to bring $100 bills?

Warks.England
Destination Expert
for Myanmar, Yangon (Rangoon), Ngapali, Tossa de Mar
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15,174 posts
368 reviews
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1. Re: Money

There are Banks at all the main airports with fixed rates so change your $'s there-the rules have been relaxed recently and they now will take good quality "used" notes-best to keep them flat not folded. $100 bills get a slightly better rate than smaller ones.

Hotels will expect payment in $'s and will still expect "pristine" ones as the new rules have not cascaded down as yet.They will give you change in $'s.

As you said,use kyat for all local payments.

SS

Edited: 22 December 2012, 21:53
Wellington, New...
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2 reviews
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2. Re: Money

The rate in Yangon is slightly better than in town (not signficantly but slightly) - for the convenience though you might as well change there. There are plenty of banks around, not all will change money, but again most will. We changed around 50% of budget into kyat. For changing we actually brough euros which had far less scruinty than the US$ plus they are plastic money so are usually in good condition anyway. You still need the US$ for direct payments to hotels etc though.

No you cannot fold a note - in fact I saw an Italian women doing this in a long line at a bank, a line she'd created by having about 50% of her notes rejected. The bank staff were horrified and gave her a stiff white envelope to carry them in. She didn't even thank them! I have pictures on my blog detailing how we carried money and kept it pristine listraveltips.com/how-to-carry-money-in-myan…

Brasov, Brasov...
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8 posts
19 reviews
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3. Re: Money

Bring 50 and 100 $ bills, you will get a better exchange price for them. They must be no older than 2006 and in good condition- not folded, dirty etc. Otherwise they do not accept them.

The banks have a good exchange rates, much better than the hotels where we stayed. In november 2012 the rate was 845 kyats=1 $, at the bank.

Derbyshire
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190 posts
208 reviews
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4. Re: Money

Bigger $bills get a better exchange rate. You can use dollars for anything including water and even buying from the local street traders who greet you at the temples though you get a slightly better deal in the local currency just because you can only deal in $1 dollars when bartering in dollars whereas local currency you can barter in 100s .

Remember if your bills get folded they iron easily ;-)

5. Re: Money

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