Myanmar Currency & Exchange Rate
Besides the official Kyat, the US dollar is also widely accepted in Myanmar as an alternative currency, especially for tourists in Myanmar trips, it is larger purchases such as hotels, luxurious restaurants, flights, etc. from foreigners. It may be sometimes at a worse rate if these transactions are paid in kyat. On the other hand, for smaller purchases such as taxi, buses, and cheaper to mid-range meals payment made in kyat are more preferable.
Myanmar Currency Exchange Rates
In 1993, Myanmar began issuing foreign exchange certificates (FEC) in denominations of 1, 5, 10, and 20 kyats. These were exchanged on a parity ratio with the United States Dollar and were valued separately from the regular kyat. The conversion of foreign currency into kyats was made illegal as exchange rates were set artificially high.
Shown below is the table of the current exchange rate, 2016.
MMK ratio |
USD ratio |
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