Myanmar Money & Expenses
We just give information how money expenses Myanmar tips
for travelers. Myanmar uses three currencies, two of which are legal to use for Myanmar citizen, one of which need a license to use as it is called foreign currency to expense in Myanmar. All three currencies in Myanmar are strongly linked to the US dollar and the Japanese Yen as Myanmar has more Japanese investment. The first is the everyday Myanmar national currency, called kyat (pronounced chat) and divided into 100 pyas with a confusing collection of coins that is no longer in circulation because the kyat has decreased in value so much over the last decade. In 2000 it was announced that K 50 and 100 coins would be issued, but we've yet to see any in circulation as expenses Myanmar. At present the following kyat banknotes were in use: K 1, K 5, K 20, K 50, K 100, K 500 and K 1000. A sum of 100,000 is called "thein" in Burmese, so K 100,000 is thein kyat; the Indian term lakh (100,000) is also common in Myanmar.
Foreign Exchange Certificates ( FEC )
As soon as you enter the immigration check point at Yangon or Mandalay Myanmar international airports you're supposed to stop at a counter and exchange US$ 200 for 200 FECs Myanmar's second legal currency before but you don't need to change now any more. The Central Bank of Myanmar issue FEC notes for the convenience of tourists visiting Myanmar's come in denominations equivalent to US$ 1, US$ 5, US$ 10 and US$ 20. Payment for FECs is accepted in US dollars, pounds sterling. Australian dollars, Canadian dollars, Swiss francs and Japanese yen all in cash or in Us dollars or British pounds only travelers cheques. Credit cards may also be used to purchase FEC at the Yangon Myanmar international airport if needed. Not much branch of the foreign trade bank in the arrivals area can perform the transaction. Note that when buying FECs with travelers cheques a 2 % fee is levied on the transaction. Only traveler's cheques issued by the following banks are accepted in Myanmar: Mastercard, American Express, Bank of Tokyo, Citicorp, Visa, Bank of America, National Westminster Bank, Swiss Bankers and Commonwealth bank of Astrialia are accepted. But you can't use credit card in Town.
One Us dollar always equals one FEC and FEC can be spent anywhere in Myanmar. Unlike with Us dollars, no special licence or permit is necessary for a citizen of Myanmar to accept FEC. Officially approved Myanmar hotel rooms, Myanmar airlines, Myanmar rail ways (most stations) and larger souvenir shops require payment either in US dollars or FEC. So the required US$ 200 purchasse of FEcs is not necessarily something to avoid, since they can be used to pay hotel and transportation costs. FEC can also be exchanged for Myanmar Kyat at the free Myanmar market rate at hotels, shops or from money changers that accept FEC. If you run out of FECs while on the road, MTT is, or course, quite happy to sell you more. FECs may also be purchased at the Central bank of Myanmar and the foreign trade Bank in Yangon Myanmar, and at government-owned Myanmar hotels.
One the other hand, FEC is not absolutely necessary for Myanmar travel, and if you can avoid purchasing them, do so. Some individuals have also got away with buying less than the US$ minimum this usually involves the offering of a present to the staff behind the exchange counter - figure on at least US$ 10. This entire complicated system revolves around the desire of virtually every Burmese person- and of course the government to get their hands on hard currency, commonly referred to as FE. Note that just few years ago, the amount of US dollars that one hand to exchange into FEC on arrival was US$ 200. If, as we've heard may happen soon, the government banishes FEC and goes to a straight exchange rate, none of this will matter anymore. Note also that the old scheme of buying whisky and cigarettes at Bangkok airport's duty-free shop to sell for free market kyat is no longer necessary. In fact you'll lose money if you do it. These items are usually less expensive in Yangon Myanmar than in Bangkok especially cigarettes and drinks.
Spread your money (expenses myanmar money tips)
Critics of independent travel argue that traveler's spending usually congregates at Myanmar select places, even if those spots are privately run. Familiarity can be reassuring such as your trishaw driver buddy, or the plate of noodles that didn't get you sick but try to mix it up a bit for your expenses Myanmar.
Don't expense money to buy all of your needs (bed, taxi, guide, rice) from one source. Be conscious that behind the scenes commissions are being paid on most things you pay for when in Myanmar Company of a driver or Myanmar guide, it doesn't always affect your price, but if all travelers follow the same lead, the benefits only go to select places. You can minimize expenses Myanmar that go to the foreign-operated businesses. Mix up locations where you catch taxis and trishaws and try to take ones from guys not lingering outside tourist areas. Try to eat at different family Myanmar restaurants as your money spread more places with our expenses Myanmar tips. If you're staying at a Myanmar hotel, eat out often. Kike in Ngaplali Beach, Myanmar local restaurants are just across the road from the beach and Myanmar hotels. Either buying Myanmar handicrafts directly from the artisans in Myanmar, don't get all your Myanmar souvenirs one private Myanmar shop.
When to change your money
If you're newly arrived, always ask around for the going rate before changing large amounts. It's best to ignore money changing touts at the airport just use cash US dollars for the taxi ride into Yangon as they accept US dollars (5 US to downtown). Some people bring a small amount of Myanmar kyat purchased from travelers or Myanmar moneychangers in Bangkok, and spend a few kyats on a local Myanmar bus into town if they're pinching pennies, there's a slight risk here, since it's illegal to bring kyat into Myanmar, but it's very seldom that anyone is searched on entry. Once in town you can check in to any Myanmar hotel or guesthouse using FEC or US dollars. Then ask other travelers in Myanmar what the Myanmar current rate is and you will find exact exchange Myanmar rate for yourself as we are giving you the best expenses Myanmar tips for traveling Myanmar.