Official Currency: The official currency of Myanmar (formerly known as Burma) is the Kyat, abbreviated as MMK. The symbol often used locally is K.
Banknotes and Coins:
Kyat is primarily circulated in banknotes. Common denominations include K50, K100, K200, K500, K1,000, K5,000, and K10,000. Coins are rarely used and have little practical value in daily transactions.
Currency Exchange:
Foreign currencies such as the US Dollar (USD) are accepted in some hotels, tourist businesses, and travel services, but it’s essential to use Kyat for most local transactions. It is recommended to exchange money at authorized currency exchange counters, airports, or banks rather than on the street.
Digital Payments:
Mobile wallet and digital payment systems like KBZPay, Wave Money, and AYA Pay are increasingly used in urban areas, especially among younger populations and small businesses. However, cash remains dominant in many rural and traditional markets.
Currency Tips for Travelers:
Bring clean, crisp USD notes if you plan to exchange them, as torn or marked bills may be rejected.
Always check exchange rates and verify receipts during currency exchanges.
ATMs are available in major cities, though they may charge fees and have withdrawal limits.
Note: Due to political and economic fluctuations, Myanmar’s exchange rate and currency regulations can change rapidly. Visitors should check the latest updates from reliable sources before traveling.
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