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Changing money in Burma

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There are changes afoot in Burma as regards changing money. As I expect all of you know, there is an "official" rate of exchange of about 6-8 kyat to the dollar and the black market rate of a bit over 800 kyat to the dollar currently. Previously, it has not been possible for foreigners to exchange money at banks in Burma.

Recently, there have been changes in the banking laws in Burma, and banks are being allowed to open currency exchanges. So far, there is a report on Thorntree of one open in Yangon. The currency exchange does exchange at rates similar to the black market rate, not the official rate. (Will this mean they will do away with the "official rate"? who knows?)

Anyone heading to Burma should keep their eyes open for this, and please report back on your experience. We will, of course, report back on our experience.

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