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"Myanmar New Money Currency Note 5000-Kyats"

Myanmar 25th, September, 2009

Myanmar Currency History will make a landmark issuance of 5000 Kyats currency notes at the end of October 2009 accroding to a Myanmar Government announcement Thursday.

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Myanmar Money and Banking

Money is a primary need when you’re on the road and has the potential to cause major hassle. Get the upper hand with this informative report on currency, traveler’s checks, money wiring, ATMs, banks, and credit cards in Myanmar.

Take the stress out of wondering where to exchange currency, whether to bring cash, traveler’s checks, or credit cards, or if you’ll find ATMs in Myanmar. You’ll get listings of current exchange rates, banks, money changer locations, government offices in the major cities. In case of an emergency you’ll be prepared with the numbers to call. Save yourself from hassles in Myanmar by knowing what to expect in advance and saving valuable time for business or pleasure when you’re on the ground.

Myanmar Money

Currency: Kyat (Kt) = 100 pyas. Notes are in denominations of Kt1000, 500, 200, 100 and 90 pyas. Coins are in denominations of Kt1, and 50, 25, 10, 5 and 1 pyas. Kt100,000 is known as a lakh, and Kt10 million as a crore. Kyat is pronounced like the English word ‘chat’. To combat the black market and limit the financial power of dissident groups, currency denominations are occasionally declared invalid without prior notice. Limited refunds are usually allowed for certain sectors of the population.

Currency exchange

Individual tourists are required on arrival at Yangon international airport to exchange a minimum of US$200 into FECs (Foreign Exchange Certificates). Any unused foreign exchange certificates out of this amount will not be converted (though FECs in excess of US$300 can be reconverted on departure). Visitors on a package tour are not subject to this requirement, but if they wish to spend extra money in Myanmar, they can also exchange US Dollars for FECs.

FECs, which are printed in China, are Myanmar’s second legal currency and are issued by the Bank of Myanmar specifically for visiting tourists. They come in denominations equivalent to US$20, 10, 5 and 1. Payment for FECs is only accepted in US Dollars. One US Dollar equals one FEC. FECs can be exchanged into Kyats at officially authorized banks, bureaux de change, hotels and Myanmar Travel and Tour offices and can be spent anywhere in the country.