Currency, Exchange Rates, ATMS & Banks

The kyat (pronounced ‘chat’) is the official currency of Myanmar, shortened as ‘K‘ or 'MMK' ie K50, K100, K200, K500, K1000, K5000 and K10,000.

The US dollar is widely usedand accepted for larger purchases such as hotels, high-end restaurants, flights and access to historical sites.

Taxi rides, buses and cheaper to mid-range meals are quoted and are almost always paid for in kyat.

You should expect to exchange roughly half the money you take to Myanmar into kyat. If you are spending more than a few days outside of Yangon, Mandalay or Nay Pyi Taw, make sure to exchange enough money beforehand; it can be difficult to change money outside the main cities, and you will probably get a worse rate. ATMs are also more difficult to find in these areas (see more information below).

Important note! US dollar bills taken to Myanmar must be in PERFECT CONDITION.

Dollar bills should be brought to Myanmar in differing denominations: take plenty of $10, $5 and $1 bills to pay for hotels, flights and historical sites, and take $100 or $50 bills for exchanging to kyat (larger denominations usually get a better rate).

Blemishes of any kind – creases, marks, folds and so on – may result in getting a far worse rate of exchange or the money may not be accepted at all. Also, pre-2006 dollar bills or ones with the letters AB and CB at the start of the serial number (at the top left corner of note) may not be accepted. Euros are generally accepted as an exchange currency and do not have to be in pristine condition. It is therefore advisable to carry US dollars in a safe, flat folder – not in a wallet.

EXCHANGE AND RATES

Money can be changed at banks in the downtown areas of larger cities and at most major airports, including Yangon, Mandalay,Nay Pyi Taw, Bagan and Thandwe (for Ngapali beach). In Yangon, you can also head to the popular and central Bogyoke Aung San Market (Scott Market) if you want to change money at the weekend – here you can find numerous money-changing shops (these tend to shut around 3.30 to 4pm).

Until recent government reforms, it was necessary for visitors to Myanmar to change money on the black market in order to get a reasonable exchange rate. This is no longer the case; you can now get a good exchange rate at banks and official money exchanges. Money changers on the street should be avoided, as they are likely to scam you.

Unsurprisingly, the exchange rate is subject to fluctuation; check our currency exchange widget at the bottom of this page for the latest.

BANKS, ATMS AND CREDIT CARDS

While visitors once had to bring in all the necessary cash for their travels into Myanmar, there are now over 600 ATMS that accept international bank and credit cards located throughout the country – although bear in mind that most are concentrated in Yangon, Mandalay, Nay Pyi Taw, Bagan and Inle Lake. Cardholders can also withdraw local currency from ATMs and use their cards at a growing number of major outlets such as hotels, restaurants, and retailers.

Currently only Visa, Mastercard (Maestro/Cirrus), China’s Union Pay and Japan’s JCB can be used; the biggest providers of compatible ATMs are CB (Co-operative) Bank and KBZ (Kanbawza) Bank. Others include AGD Bank, AYA Bank and United Amara Bank.

For ATM cash withdrawals, there is a K5000 transaction fee, and a withdrawal limit of K300,000 per transaction. Depending on the conditions set by your own bank at home, you may be allowed multiple withdrawals per day. The use of ATMs in Myanmar is sometimes restricted by internet failure.

There are no international banks in Myanmar at the moment, and local banks are in the process of becoming part of the international banking system.

KBZ Bank has a country-wide network of ATMs that accept Visa, Mastercard, Union Pay and JCB. Yangon locations include Yangon airport; Bank Street (downtown); Junction Square and Taw Win Centre shopping centres; and many City Mart supermarkets. Outside of Yangon, KBZ has ATMs in all major cities and tourist spots.

CB Bank also has ATMs that accept Visa, Mastercard, Union Pay and JCB at major centres throughout Myanmar, with many in Yangon. These include ATMs at Yangon airport and major retail outlets such as Junction Square, Junction Centre; Taw Win Centre; Yankin Centre; and Bogyoke Market. Yangon hotels with CB ATMs that accept Visa include Chatrium; Parami; Inya Lake; and Governor’s Residence.

Point of sale payments

The use of international bank and credit cards to pay for goods and services at outlets in Myanmar is currently limited but, as with so much in the country, the situation is changing fast; in Yangon and some of the more popular spots around the country, cards can be used at point of sale – although a significant transaction charge may be incurred.

Traveller’s cheques are not generally accepted in Myanmar.