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Myanmar Exchange Rate (Urgent)

Travel Forums Asia Myanmar Exchange Rate (Urgent)

1. Posted by damo22 (Budding Member 16 posts) 9y

Is there anyway to find out what the current black market exchange rate for US$ to Khat is?

The offical rate is stupid and, as I will be in Myanmar in 2 days, I'd like to have some idea how much I should be getting for my $.

Many thanks.

2. Posted by Gelli (Travel Guru 2457 posts) 9y

Probably of limited (or no) use, but the official rate internationally is 1usd = 6.45 khat.
No idea what the official rate within Myanmar is (it will be much worse as thats a way of them making money and getting hard currency), or black martket rate am afraid.

Realistically, take the official international rate, and the official local rate, and don't accept anything worst than half the difference.

3. Posted by damo22 (Budding Member 16 posts) 9y

The problem with taking the average is that in the past the blackmarket rate has been about 1300 Khat to the dollar... a bit more than the offical 6. Going anywhere near the offical rate would be like burning money.

I'll look around on the net a bit more.

4. Posted by Mel. (Travel Guru 4567 posts) 9y

Hello Damo

What i would do, in your situation, is change enough money, for one day the official way. Then ask about the black market, when u are already in Myanmar. Wait until u get 3 offers, on the black market. Then if they are consistant, u will know what the black market price is, for your dollars.

Mel

5. Posted by buzzard (Respected Member 187 posts) 9y

When I was there last month, I got rates ranging from 1,200 to 1,300 kyat per dollar. One street dealer in Mandalay offered us 1,500 but we had already changed money earlier and didn't follow up on that offer to see if it was legitimate.

6. Posted by danalasta (Travel Guru 519 posts) 9y

Hi Damo,

Just returned (Oct 12) from Myanmar after a three week trip...The exchange rate is like a yo-yo, hovering between 1,300 and 1,200 to the dollar. You can get the best rate in Yangoon (1,325 as of Oct 11), in Mandalay it's 1,250. In Bagan, surprising I got 1,300. In any other town, like Kalaw, Hsipaw or Pyin Oo Lwin, you will get below 1,200...The advice I got, and followed was to change about USD100 in Yangoon, and in smaller amounts as you go on.

Please note that serial numbers beginning with certain alphabets (L, for instance)are totally rejected; also if the dollar is soiled, stained,etc. I learned the trick of pushing these rejected dollars to the street side stalls and vendors. In Namshan,nobody accepts the dollar, only the kyats.

Cheers.

Dana