Money

Currency
Two different currencies circulate in Myanmar: the national currency kyat and the US dollar. For hotels, flight tickets and entrance fees you mainly need dollars to pay. Otherwise you pay with kyat e.g. bus tickets, restaurants and shopping. The euro hasn´t established itself in Myanmar yet; however, some hotels might accept it as a currency.

Exchange Rate
The offical exchange rate for one US dollar is much below what you obtain on the black market; thus, you should never exchange money in banks or airports. On the black market, you get around 1000 kyat for one US dollar, whereas you get only six kyat in banks. Since the inflation rate is high and exchange rates vary often, then you should ask other travellers for the latest rate.

Where to Exchange Currencies
You will get the best rate by the black marketeers in Yangon, which can be found around Sule Paya and Bogyoke Aung San Market. Never hand out your money before counting the kyats! Hotels and travel agencies are more reliable, as they usually offer a slightly lower exchange rate than the black marketeers.

Travel Costs
In Myanmar, credit cards and Traveller Cheques are hardly accepted;
therefore, you should bring US dollars for your whole trip. Compared with Europe, Myanmar is a relatively cheap place for travelling. However, travel costs vary depending which category you´re looking for in terms of accomodation, transportation, restaurants etc. Travellers with a low budget can get by very well with around 20 dollars per day. You will need around 50 dollars a day, if you stay in midrange hotels, book a guide at times and cover some distances by plane.
     
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