Reading54

My cruise ship will be docking in Yangon (Rangoon) for 3 days. On www.xe.com it showed 1USD=974 MMK, but I also read on a Lonely Planet quidebook which advised to bring USD in cash to exchange currency in Bogyoke Aung San Market for a better rate.

My question is, what was the "better rate" of exchange you were able to get recently while traveling in Burma? Thanks.

LancasterLad

Make sure your US$ are clean and crisp. And don't be tempted by anyone on the street offering to exchange money for you.

LancasterLad

You might find this link of interest...

http://www.myanmarburma.com/blog/410...ncy-in-myanmar

NoFlyZone

Just note that LL's link is over a year old and in that time a whole lot of bank ATMs have sprung up. It is now easy to get kyat from your ATM card at a good bank rate.

chris45ny

We traveled from 2/10-3/10/2014. I exchanged my USD only at money exchanges or banks, not on the street. On 2/11 I got a rate of 982. On 2/14 the rate was 981. On 2/21 the rate was 982. On 2/26 the rate was 978. On 2/28 the rate was 977. The rates fluctuate but not too drastic a difference. The highest was 982 and the lowest was 977. I did not exchange any USD at the market and I don't honestly remember if I saw any money exchange places while we were there. I exchanged all my USD at banks or designated money changer centers.

It is important to have crisp new USD to exchange. No rips, folds, marks. It took me 3 months to get my USD together for our trip.

Have a great time!

LancasterLad

Just be a bit careful with ATMs in developing counties.

What do you do if the ATM eats up your card or dispenses the wrong amount of money?

Freak, I expect!

How to avoid being left up the creek?

Avoid stand-alone ATMs.

Only use ATMs that are either attached to a bank or in a bank.

And only use them during office hours. That way, any problems can be sorted out on the spot.

LancasterLad

Another reason for avoiding stand-alone ATMs are the regular electricity power shortages in Myanmar. A bank branch will have a generator, but it's unlikely that a remote stand-alone will!

Keep all your receipts, and do a thorough check on your bank statement when you get home.

Kathie

In addition to bank ATMs, there are exchange windows in the city that are operated by banks. The exchange rates are same/same at all of the banks, a fraction of a kyat more or less. The LP guide is seriously out of date, and was seriously out of date the day it rolled off the presses. It was published at the same time as massive changes were occurring in the country. It no longer makes any sense to try to exchange on the black market, as the black market rates are lower than the official exchanges. Indeed, travelers looking for black market exchange is now a magnet for scams, mostly double-counting.

LancasterLad

To be fair to LP, all their guide books are out of date before they even go to press.

Nothing in hard-copy has a hope of keeping up with technology. So some of the destination guides, especially in developing countries, are far more out of date than others. And all Guide Books have that same flaw.

But LP, and most other popular brands generally offer excellent advice. Just treat them as a friend and not as a bible.

And of course, LP Thorntree has excellent 'dynamic' discussion forums.

yestravel

I was in Myanmar in Jan/Feb timeframe. We used ATMs attached to banks only during the hours the banks were open. We had no trouble getting money. Definitely heed the advice to have crisp, unfolded, clean bills. A couple times out bills were turned back. I also had trouble getting a stock of crisp, new US $s.