Money and Cost in Myanmar
It is said that as long as there is money and maps, it is no longer just a dream to travel to Myanmar. When it comes to Myanmar, many people associate it with words such as poverty, backwardness, and chaos. Myanmar has countless famous attractions, beautiful natural landscapes and a long history of culture. Its 3 main tourist cities, Mandalay, Yangon and Bagan are very peaceful and very safe. Have you planned to travel to Myanmar? Before traveling to Myanmar, you may the first time think about the money and cost in Myanmar. How much does it costs to travel to Myanmar? Different people may have different levels of consumption. Here only introduce the general cost in Myanmar for your reference.
Money in Myanmar
The currency of Myanmar is kyat, K or MMK for short. The value of Burmese banknotes is 50 pyas, K1, K5, K10, K20, K50, K100, K200, K500, K1000, K2000, K5000, K10000. 1 USD is about K1519 and 1 EUR is about K1705. The value of Burmese coins is too small. Generally, people don’t use coins in Myanmar. In Myanmar, the most commonly used foreign currencies are the dollar and the euro.
Currency exchange in Myanmar
The unit of Burmese currency is KYAT, abbreviated as “K”. The local area mainly uses the kyat or the dollar. The exchange rate of the kyat currency fluctuates frequently, and the exchange rate varies from day to day. To go to Myanmar, you need to bring dollars. The requirements of dollar are new, unfolded, and not written on them. These requirements can be made when the domestic bank changes. You can exchange local Myanmar currency in the bank of the airport hall. Dollar is used for local accommodation and tickets. The bus and the rest of the money are spent in Myanmar, and taxis can be used. The euro can also be exchanged in Myanmar. Kyat is used for bus, taxis and the rest of the money spent in Myanmar. The euro can also be exchanged in Myanmar.
Where to exchange Kyat in Myanmar?
In the lobby of airport and bank, you can exchange dollar for kyat. You can also change dollar to kyat in the hotel, but the exchange rate is lower. It is no longer necessary to change money in the Bogyoke Aung San Market, and the exchange rate between the bank and the airport is already very good.
Tips for currency exchange in Myanmar:
1、The exchange rate in the airport of Yangon is the highest. In addition, exchange rate of 100 dollars and 50 dollars is the highest. The lower the value of the kyat, the lower the exchange rate.
2、The Burmese people are extremely entangled in the dollar. They do not receive significant creases, dilapidation, soaking in water, draping over tape, and dollars before the 2009 version.
3、Try to pay kyats in Myanmar, because it’s not cost-effective to pay in dollars in Myanmar. In Myanmar, their so-called constant exchange rate is $1=1Kyat, but the actual exchange rate can reach around $1=1358Kyat, so the higher the dollar payment, the more the loss.
4、In Myanmar, you can use the Union Pay card to withdraw money from the ATM. The handling fee for ATM withdrawals at Burmese banks is 5,000 kyats per pen. You can only withdraw up to 300,000 kyats per pen.
5、The banks in Myanmar are not very developed, and the use of bank cards has not yet been popularized. Whether it is a shopping mall, a restaurant or a hotel, basically no credit card can be used and it needs to be paid directly. In Myanmar, there is no habit of tipping.
Travel cost in Myanmar(All prices below are reference prices)
Myanmar Visa fee
In Myanmar, there is e-visa. But the price is very expensive, up to $50. You can bring your passport, photo, ID card, etc. to the embassy to apply for a visa. The price of the visa is about $25.
Plane ticket cost to Myanmar
The price of air tickets from the United States to Myanmar is generally about $1450. The price of air tickets from the United Kingdom to Myanmar is generally about $900. The price of air tickets from Cambodia to Myanmar is generally about $300. The price of air tickets from Thailand to Myanmar is generally about $250.
Transportation cost in Myanmar
The transportation in Myanmar includes planes, trains, intercity buses, cruises, buses, taxis and bicycles. The one-way trip by airplane between cities is basically less than 100 dollars. Cruise from Mandalay and Bagan for approximately 9 hours, one-way fare including handling fees is about $43. The fee of bus are very cheap, generally 100-300 Kyats. Going to attractions in cities like Yangon and Mandalay, the price of taxis is generally within 2000 Kyats. If you pack a car for a day trip, the price of a car in Bagan and Mandalay is about 30,000 Kyats/day.
Food and hotel costs in Myanmar
The cost of food in Myanmar is very cheap. In addition to eating in Yangon, the recommended restaurant consumption on Tripadvisor is about $3-$5 per person. The cost of Western restaurant in Myanmar is about $10 per person. If you don't have too many requirements for accommodation, you don't need to spend a lot of money to stay in Myanmar. Cost of accommodation is about $20-$40 per night in Myanmar. The hotel has a separate bathroom with breakfast and Wi-Fi.
Attractions tickets prices in Myanmar
Tickets for Mandalay Hill and Innwa ancient city are about 10000k. Tickets for Sagaing ancient city are about 5000k. Tickets for Inle Lake are about 13000k. Tickets for Shwedagon Pagoda are about 10000k. Tickets for Bagan are about 25000k.