Money Tips

Myanmar uses three currencies; kyat (Myanmar currency), FEC (foreign exchange certificate),and the US dollar. Kyat and FEC are legal tender for everyone.

Foreign Exchange Certificate (FEC)

FEC is a type of government-issued certificate that always equals to a US dollar; the rate for FEC fluctuates according to the US dollar in most cases. It is possible to exchange surplus FECs back to US dollars at hotels in Yangon and Mandalay. But be careful you get the current exchange rate, which usually fluctuate several times a day. Sometimes FEC exchange rate is even higher than the US dollar.

FEC can be spent anywhere in Myanmar. Unlike with US dollars, no special license or permit is necessary for a citizen of Myanmar to accept FEC. Officially approved hotel rooms, airlines, and larger souvenir shops require payment either in US dollars or FECs.

You can also exchange FECs for kyat - at the free market rate - at hotels, shops or from money changers. The best way to get the current rate is to ask several sources including your tour agents if you want to exchange a large amount of US dollars or FECs.

US Dollars

The US dollars is most desired currency and the most basic to the country's overall economy. It is advisable to bring US dollars only. Other currencies usually get a poor rate of exchange on the free market. Legally speaking, cash dollars can only be accepted by establishments possessing a license to accept US dollars. In reality all merchants are quite happy to take them. The US dollars can also be used to exchange for kyat from licensed money changers, at hotels, or on the black markets.

For the daily updated US dollar exchange, please see Myanmar Currency Exchange Rate.

Credit Cards

AmEx, Diners Club, Visa and JCB are, generally speaking, not accepted in Myanmar. But it is possible to use credit cards to pay for stays in some mid-range hotels and for purchases in upmarket shops in Yangon and Mandalay. There is usually a fee of 6% for credit card transactions. All transactions paid for with foreign credit cards in Myanmar are charged in US dollars, then converted to your home currency by the card's bank of origin. Some travel agents offer the transactions of credit cards with a fee.

Costs

Myanmar travel continues to get cheaper as more private businesses compete to attract tourist dollars. Costs depend largely on where you decide to go, how you decide to get there, and which hotels you choose to stay.

Goods and services may be priced either in kyat or in US dollars/FECs. Hotel rooms, some train tickets, air tickets, car rental and guide services are generally priced in US dollars/FECs - for some of these services, US dollars/FECs may be the only currencies accepted. Duty-free items at the airport are also priced in US dollars/FECs. Food, taxis, buses and just about everything else in Myanmar are priced in kyat.