Myanmar Currency
Myanmar's currency is the Kyat (pronounced "Chud"). There are bank notes of 1 Kyat, 5 Kyats, 10 Kyats, 15 Kyats, 45 Kyats, 90 Kyats and 200 Kyats. Officially the Kyat is divided up into 100 Pyas. There are Pyas coins, but you will hardly come across them, as they are practically worthless.
Myanmar Exchange
The official Myanmar currency exchange rate in the middle of 1994 was only about Myanmar currency 6 Kyat for one US $. But on the black market you could get Myanmar currency exchange rates of up to 1200 Kyat per Dollar. Nevertheless, Myanmar money transactions on the black market are also in Myanmar illegal.
However, in the past, owing to the large discrepancy, many tourists chanced their luck and changed money on the black market. Therefore the Burmese government introduced compulsive exchange, forcing every tourist to now Myanmar currency exchange a minimum of 200 US $ into locally Myanmar Foreign Exchange Certificates. Unused Myanmar Foreign Exchange Certificates can be reconverted into US Dollars.
In order to avoid payment of touristic services in illegally exchanged Kyat, which would make the services unrealistically cheap, foreigners are moreover required to pay for instance hotel bills, flight tickets and even train tickets in US Dollars.
However, in the past, owing to the large discrepancy, many tourists chanced their luck and changed money on the black market. Therefore the Burmese government introduced compulsive exchange, forcing every tourist to now Myanmar currency exchange a minimum of 200 US $ into locally Myanmar Foreign Exchange Certificates. Unused Myanmar Foreign Exchange Certificates can be reconverted into US Dollars.
In order to avoid payment of touristic services in illegally exchanged Kyat, which would make the services unrealistically cheap, foreigners are moreover required to pay for instance hotel bills, flight tickets and even train tickets in US Dollars.
