Joe Louis exchanges currency in Myanmar
The adventure began before I ever stepped on a plane. I had only one day to prepare for the trip to Myanmar because I spent all of the previous free time getting a visa and booking flights. What else was there to do besides getting a visa and booking flights? It can’t be THAT hard to get new flip flops. Well after skimming guide books and reading some online forums I realized that I had underestimated the issue of currency. Based on these (outdated) sources I learned the following about monetary transactions in Myanmar:
- Credit cards are not accepted.
- There are no ATMs, so bring your own cash.
- US Dollars are the money changers currency of choice (good for me).
- They don’t take just any dollars. The dollars must be crisp and unmarked and newly printed (after 2006). The Burmese are very picky about their dollar bills.
- The best exchange rates can be found in local markets, but there are known to be scam artists there as well. So exercise caution.
The race to get acceptable US Dollars began. Start the clock and GO! I tried three different banks in the touristy area in Bangkok and no luck. They didn’t understand why I wanted US Dollars when everyone else was trying to give the banks dollars in exchange for Thai Bhat. I regretted not taking out more money in Cambodia where the ATMs actually dispensed US dollars. The fourth bank entertained the idea of giving me dollars, but the clerks couldn’t get their head around the idea of crisp, new bills.
Well you know what they say: fifth time’s the charm. After much explanation I worked out a deal with the bank clerk. I would trade $200 in Thai bhat for new US dollars (I was able to inspect beforehand). Then I would trade an additional $200 in crumply, dirty US dollars for new bills. To do that I would have to first convert the dollars to bhat, and then back to dollars, paying the exchange free each time. It ended up costing under $10 to conduct the whole transaction and I was happy to just be done with the whole thing.
Of course when my plane touched down in Yangon and I walked into the airport lobby, I immediately saw ATMs lining the wall. Go figure.
Nowadays, major cities have ATMs. I was still happy to have cash on me though, but Myanmar is the barren currency wasteland it is made out to be. In a pinch, you can get money and won’t be stranded.
See what other blogs are saying about Myanmar currency exchange:
“Cash is king in Myanmar. There are some ATMs around the country, and have recently started accepting international cards, but cash is still recommended. The US dollar is also a currency of choice, but be warned that many places will not accept dollars to exchange if they’re even the slightest bit worn.”
–Imperator Travel
“And finally, there are now over 600 ATMs available for cash withdrawals with your Visa card. Phew! Alongside the ATMs there are also over 1,000 POS terminals (point of sales) at hotels, restaurants and shops meaning you can pay on your Visa card for larger expenses.”
–The Travel Hack
