teatree Posted November 6, 2012 Share Posted November 6, 2012 For those who have not been, you need very clean notes/bills when you go to Myanmar. Any creases or marks will be rejected or cause the rate to go down. You can get very clean notes at the orange 'super rich' near Big C (opposite Centralworld). Tell the counter you want USD for Myanmar and they will sort you out. You have to pay a slightly higher rate but not much. 2 Link to comment Share on other sites More sharing options...
SeaVisionBurma Posted November 6, 2012 Share Posted November 6, 2012 Can't stress enough how important the above post is. I am still bumping into travellers in Myanmar who are quite angry they are not able to exchange currency in the country because they had no clue about needing clean, crisp, new USD notes. The same travellers also get upset they can't use local ATM's or credit cards. Quite honestly it shows a complete lack or preparation and research.... In addition to teatree's recommendation about Super Rich - another good money changer is on Phaya Thai road under the Bangkok Arts & Culture Centre. Walk around from National Stadium BTS around towards Phaya Thai, staying on the left. I think it is called Siam Exchange. They will also do clean USD notes for Myanmar, with a small surcharge. SVB Link to comment Share on other sites More sharing options...
Halfaboy Posted November 6, 2012 Share Posted November 6, 2012 Would the same be true in case you bring Euro's or Thai Baht notes with you ? Link to comment Share on other sites More sharing options...
simon43 Posted November 10, 2012 Share Posted November 10, 2012 Would the same be true in case you bring Euro's or Thai Baht notes with you ? I wouldn't assume that you can easily exchange any currency except USD. I had some very clean Thai baht in my wallet, but could not find any 'takers' for them. Work on the basis of 'clean USD or nothing' 1 Link to comment Share on other sites More sharing options...
Halfaboy Posted November 10, 2012 Share Posted November 10, 2012 Would the same be true in case you bring Euro's or Thai Baht notes with you ? I wouldn't assume that you can easily exchange any currency except USD. I had some very clean Thai baht in my wallet, but could not find any 'takers' for them. Work on the basis of 'clean USD or nothing' On my last visit (March 2012) it was possible to change a few currencies at banks in Mandalay I also heard about this optin in Yangon (near the entrance of Scott Markett). See attached picture. Link to comment Share on other sites More sharing options...
Halfaboy Posted November 10, 2012 Share Posted November 10, 2012 Ooooops .... something went wrong with uploading. Here's another try. Sorry .... Link to comment Share on other sites More sharing options...
DagonKhan Posted November 10, 2012 Share Posted November 10, 2012 On my last visit (March 2012) it was possible to change a few currencies at banks in Mandalay I also heard about this optin in Yangon (near the entrance of Scott Market). See attached picture. There are money changers in several places Halfaboy, and yes they do quote a variety of currencies. I've heard that sometimes they're not interested and even though they quote a rate, they won't change. I think Simon43 is right to say 'clean USD or nothing'. Hopefully it'll change soon, but I wouldn't want to be holding a load of Euro's if there was a problem. In any event you will always find someone to change them, but I doubt you'll get a decent rate, not worth the risk. 1 Link to comment Share on other sites More sharing options...
uptheos Posted November 10, 2012 Share Posted November 10, 2012 On one of my trips, I had what I thought was a clean crisp $10 bill for departure tax in Yangon. It sustained a bent corner in my wallet and it was refused outright. However I had a clean crisp $20 which was taken and I received a grubby old $10 bill in return as change. My protest was ignored and it was kind of funny 1 Link to comment Share on other sites More sharing options...
tombkk Posted November 11, 2012 Share Posted November 11, 2012 I changed THB to USD at Suvarnnabhumi and they actually asked whether I was going to Myanmar! When I confirmed, the cashier said I would need crisp new bills then and gave those to me. That said, with the number of tourists and the number of dollar bills in Myanmar increasing, I don't think they will hold up this rule of crisp bills much longer. Some money changers will accept used bills and make a fortune, because the tourists will all come to him after they've been rejected by the others... 1 Link to comment Share on other sites More sharing options...
Tomtomtom69 Posted January 8, 2013 Share Posted January 8, 2013 I keep reading that apart from USD, Euros and Singapore Dollars are OK to change in Yangon. Since they are less likely to be rejected if they are in bad condition relative to USD, I would bring a combination of USD and Euros. How can a major currency like the Euro be rejected? Come on people... Link to comment Share on other sites More sharing options...
householder Posted January 8, 2013 Share Posted January 8, 2013 Withdraw cash from the ATMs instead... Link to comment Share on other sites More sharing options...
IsaanUSA Posted January 8, 2013 Share Posted January 8, 2013 How can a major currency like the Euro be rejected? Come on people... Because it's Myanmar. They have no obligation to accept Euro. Link to comment Share on other sites More sharing options...
Tomtomtom69 Posted March 23, 2013 Share Posted March 23, 2013 (edited) On one of my trips, I had what I thought was a clean crisp $10 bill for departure tax in Yangon. It sustained a bent corner in my wallet and it was refused outright. However I had a clean crisp $20 which was taken and I received a grubby old $10 bill in return as change. My protest was ignored and it was kind of funny Nowadays departure tax is included in the ticket price so this experience won't happen to you again, at least not at the airport. I would always insist that a particular note is all I have - I don't play their games. Eventually they will give in and accept. Perhaps you are not as assertive as I am. On the other hand, last month when I was in Myanmar I didn't spend a single US$ or Euro - everything I had was exchanged for Kyat or withdrawn from the ATM. The Kyat is the currency of Myanmar and I used it for everything when I was there (hotels, car rental, food, etc.) Edited March 23, 2013 by Tomtomtom69 Link to comment Share on other sites More sharing options...
Tomtomtom69 Posted March 23, 2013 Share Posted March 23, 2013 DagonKhan, on 10 Nov 2012 - 15:44, said: 'Halfaboy', on 10 Nov 2012 - 14:30, said: On my last visit (March 2012) it was possible to change a few currencies at banks in Mandalay I also heard about this optin in Yangon (near the entrance of Scott Market). See attached picture. There are money changers in several places Halfaboy, and yes they do quote a variety of currencies. I've heard that sometimes they're not interested and even though they quote a rate, they won't change. I think Simon43 is right to say 'clean USD or nothing'. Hopefully it'll change soon, but I wouldn't want to be holding a load of Euro's if there was a problem. In any event you will always find someone to change them, but I doubt you'll get a decent rate, not worth the risk. A lot of things have changed since March 2012. Since the removal of most western sanctions, the introduction of ATMs etc. in December 2012 you can do a lot of things that weren't possible back then. When I was last in Yangon prior to this year (2005) I also brought nothing but USD but that was back then and this is now: As I have explained, every bank in the exchange business WILL exchange Euros and Sing Dollars in addition to US Dollars. All 3 currencies will be exchanged without question but don't expect other currencies such as Baht, Yuan, Japanese Yen, Swiss Francs or Australian Dollars to be easily exchanged at least not yet (but I wouldn't be surprised if this changes as early as later this year). For these other currencies, a special exchange market such as the one near Sule Pagoda may need to be visited but rates may not be good. Link to comment Share on other sites More sharing options...
ongchart Posted March 23, 2013 Share Posted March 23, 2013 I was brought by my local businessman to this very good money changer in Yangon during one of my trips there. After that I have been going there on my own. These two money changers in Summit Parkview Hotel which is about 20 mins walk from the famous Shwedagon Pagoda. The hotel address is Summit Parkview Hotel 350, Ahlone Road, Dagon Township, Northern Yangon, Yangon, Myanmar I have exchanged Kyat with USD, SGD, THB. I believe other major currencies like € and AUD should not be a problem. Link to comment Share on other sites More sharing options...
Tomtomtom69 Posted March 24, 2013 Share Posted March 24, 2013 I was brought by my local businessman to this very good money changer in Yangon during one of my trips there. After that I have been going there on my own. These two money changers in Summit Parkview Hotel which is about 20 mins walk from the famous Shwedagon Pagoda. The hotel address is Summit Parkview Hotel 350, Ahlone Road, Dagon Township, Northern Yangon, Yangon, Myanmar I have exchanged Kyat with USD, SGD, THB. I believe other major currencies like € and AUD should not be a problem. How were the exchange rates for THB? I remember a few years ago, near Sule Pagoda market they were offering 75% of what they should have given for Thai Baht, but this is all a Thai businessman I met had on him. Incidentally, he had flown from Tachileik to Yangon and didn't know the system in the rest of Myanmar was different to the border areas. I can confirm that EUR and SGD are getting good rates at major banks such as CB Bank, same as USD would. For EUR 50 and above, you also get a slightly higher rate than for smaller notes, as with USD. Both at the airport and at CB Bank branches, the rates were: 50-100 USD --> 859 Kyat, 1-20 USD --> 849 Kyat, for EUR 5-20 --> 1098 Kyat, EUR 50-500 --> 1106 Kyat (in Mawlamyaing) and EUR 1146 in Yangon (airport and downtown). I didn't check the SGD exchange rates since I didn't have any on me but my guess is around 600+ Kyat per SGD? Would be curious to know the rates for other currencies at the Summit Parkview Hotel. Link to comment Share on other sites More sharing options...
ongchart Posted March 24, 2013 Share Posted March 24, 2013 I cannot remember the rates now but back then I was gettting what was known as a black market rate compared to the bank's official rate which we 30% of what I got. The hotel I stayed in (Panda Hotel) then was offering 10% less. I believe now with the unpegging of the official exchange rate, the banks you mentioned are giving more reasnable rates than before. I can only suggest for anyone going there to check the rates at Summit Parkview's money changers as I have not been back there this year. Link to comment Share on other sites More sharing options...
Tomtomtom69 Posted March 26, 2013 Share Posted March 26, 2013 I just went to the TTRweekly website which states that as of 31st March, Thai Baht and Chinese Yuan can be exchanged in private and state banks. Currently the agreement covers 3 currencies which everyone reading this thread will now have become aware of: USD, EUR and SGD. For these 3 currencies, an official exchange rate is already in effect so you get a good exchange rate. Starting March 31st, 5 currencies will be accepted by banks and moneychangers. Therefore, while little over a year ago only USD was accepted, in less than a week 5 currencies will easily be accepted. At this point, I wouldn't bother with trying to exchange other currencies until an agreement similar to this one is implemented for these other currencies as the exchange rates offered at the few places that might take them will probably be a lot lower. I may be travelling to Myanmar again soon and apart from EUR (and a little USD, but not much) I plan to bring in a ton of Baht. Link to comment Share on other sites More sharing options...
up-country_sinclair Posted March 27, 2013 Share Posted March 27, 2013 ^ Interesting, but when I made my hotel reservation, they were quite clear: crisp US bills only. By the way, I've got some older US notes. Does anyone know of an FX counter or bank in BKK that will exchange them for newer bills at a minimal charge? Thanks. Link to comment Share on other sites More sharing options...
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