Owais Crawford
When travelling to Yangon, Myanmar, it is important to be aware of the local currency and where you can exchange it. The official currency in Yangon is the Myanmar Kyat (MMK), and while foreign currencies are still accepted in some cases, the usage of cash in local currency is almost unavoidable. Yangon Airport (RGN) offers currency exchange services, with money changers offering competitive rates. However, it is generally recommended to avoid exchanging money at airports due to potentially poor rates and high transaction fees. ATMs are also available at the airport, and foreign ATM cards appear to be accepted. Outside of the airport, there are plenty of options for exchanging money in Yangon, with rates similar to those at the airport.
| Characteristics | Values |
|---|---|
| Currency exchange at Yangon Airport | Available |
| Exchange GBP | Not recommended due to poor exchange rates |
| Exchange USD | Recommended |
| Exchange EUR | Recommended |
| Exchange SGD | Recommended |
| Exchange THB | Recommended |
| Exchange MYR | Recommended |
| Exchange rates | Competitive |
| Commission | Not charged |
| Exchange locations | Terminal 1: Ground Floor, First Floor, Second Floor; Terminal 2: Ground Floor, First Floor |
| Exchange timing | Monday-Friday: 9:30 AM–3 PM; Saturday-Sunday: Closed |
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What You'll Learn
Yangon Airport has currency exchange booths and ATMs
Yangon International Airport (RGN) has currency exchange booths and ATMs. The airport is located about 9.3 miles (15 km) north of central Yangon and is equipped with one runway and three passenger terminals.
Upon arrival at the airport, you will find a row of currency exchange counters in the common area. Money changers at the airport offer competitive exchange rates, and you can easily compare rates by walking through the small airport. Exchange rates at the airport are similar to those in the city centre, so it is convenient to exchange your currency to Myanmar Kyats at the airport.
ATMs are also available at the airport, and foreign ATM cards are accepted. However, using an ATM abroad may incur additional charges and fees, so be sure to check with your bank.
It is important to note that the local currency in Yangon is Myanmar Kyat (MMK), and it is recommended to have cash in this currency, as usage of foreign currencies is limited.
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The official currency in Yangon is Myanmar Kyat (MMK)
The official currency in Yangon is the Myanmar Kyat (MMK), often abbreviated to MMK K. The kyat is the only currency that is accepted in Myanmar, so it is important to exchange your money for this currency.
You can exchange your money for Myanmar Kyat at Yangon Airport, where there are several currency exchange booths. However, it is recommended that you only exchange a small amount of money at the airport, as exchange bureaus at airports tend to offer poor rates and high transaction fees. Instead, you could exchange your money at a black market rate in Downtown Yangon, where you can get a better rate.
There are several banks in Yangon with country-wide networks of ATMs that accept foreign cards, including KBZ Bank and CB Bank. These ATMs can be found at Yangon Airport and throughout the city. However, foreign cards often don't work in Myanmar, and ATMs charge a withdrawal fee of at least 5,000 MMK.
Euros and US dollars are generally accepted as an exchange currency, but it is advisable to carry US dollars in a safe, flat folder rather than a wallet. You can exchange money at banks in downtown Yangon and at the Bogyoke Aung San Market (Scott Market).
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Foreign currencies are still accepted in Myanmar
Myanmar's official currency is the Myanmar kyat (MMK), also known as the Burmese kyat. While the usage of cash in local currency is unavoidable in Myanmar, foreign currencies are still accepted in some cases.
Money changers at Yangon Airport offer competitive currency exchange rates, so you can easily exchange your money as soon as you arrive. Yangon International Airport is quite small, so you can quickly compare the rates offered by all money changers. There are currency exchange counters in the common area of the airport, and currency exchange booths in the Domestic Terminal and International Departures.
Some foreign currencies permissible at money changers in Myanmar include US dollars (USD), euros, Singapore dollars (SGD), Thai baht (THB), Malaysian ringgit, Chinese yuan, and Japanese yen. However, it is worth noting that some travellers have reported that exchanging foreign currencies in Myanmar can be complicated and frustrating. There are practically no official exchange offices, and currency exchange is often done informally. Some well-established hotels in Yangon may exchange currencies, but the rates may not be favourable.
ATMs of KBZ Bank and C C Bank in Yangon reportedly accept foreign ATM cards. However, it is recommended to have cash, particularly US dollars, as credit cards, traveller's cheques, and ATM cards may not be widely accepted outside of Yangon.
In 2022, the Central Bank of Myanmar (CBM) implemented rules surrounding the compulsory conversion of foreign currency balances in the country. Foreign currency holders were directed to convert their foreign earnings into Myanmar kyat (MMK) within one day at the official exchange rate. These rules appear to have caused some confusion and concern among foreign investors and business owners.
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Money changers at Yangon Airport offer competitive exchange rates
Yangon International Airport is quite small, so it's easy to compare the rates offered by all the money changers. You'll find a row of currency exchange counters in the common area of the airport, just past international arrivals, which are located in the central part of the airport.
Some sources suggest that you'll get better rates at the currency exchange counters on the landside as you exit the airport. You can also use an ATM at the airport, and foreign ATM cards appear to be accepted. However, it's worth noting that some banks will insist that your dollars or euros are in pristine condition, with no marks, nicks, or creases.
According to one source, C B Bank offered the best exchange rate for euros, with 1743 MMK for 1 EUR (500-50 EUR notes). C B Bank also offered competitive rates for smaller USD notes and the best exchange rate for Thai Baht. DWW currency exchange offered the best rate for SGD and MYR, but it was closed on the day that the source visited.
It's worth noting that exchange rates are dynamic and can change at any moment, and the advertised exchange rate is usually for the biggest notes. Therefore, it's essential to compare the rates for your specific notes and choose money changers who clearly state their exchange rates for different note values.
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It is recommended to research the exchange rate before exchanging GBP
Online currency converters and exchange rate calculators can be useful tools for researching exchange rates. These tools often provide real-time mid-market rates, allowing you to compare the rates offered by different providers. You can also set exchange rate alerts to notify you when the rate reaches your desired level. Additionally, reviewing historical exchange rate data can give you a sense of the rate trends and help you identify whether the current rate is favourable.
When exchanging GBP at Yangon Airport, it is essential to consider the specific currency pair you are dealing with. The exchange rate for GBP to Myanmar Kyat (MMK) may differ from other currency pairs, and it is important to ensure you are referencing the correct rate. Keep in mind that exchange rates at the airport are often advertised for the biggest notes, and you may receive lower rates for smaller notes. Understanding the exchange rate specifics can help you make more informed decisions.
In addition to researching the exchange rate, it is also advisable to explore other money-changing options beyond the airport. Yangon has several banks, such as KBZ Bank and C C Bank, which offer ATM services and may provide competitive exchange rates. Money changers in central Yangon can also provide similar exchange rates to the airport, saving you the hassle of exchanging currency upon arrival. By considering multiple options, you can make a well-informed decision that aligns with your preferences and requirements.
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Frequently asked questions
Yes, you can exchange GBP at Yangon Airport, but be aware that you will get a poor exchange rate.
The official currency of Yangon is the Myanmar Kyat (MMK).
Currency exchange booths can be found in the Domestic Terminal and International Departures areas of Yangon Airport. There are also several currency exchange counters located in the central common area of the airport.
Yes, there are several alternatives to exchanging currency at Yangon Airport. You can use an ATM, exchange currency at a bank in Yangon, or use a digital currency exchange service such as Wise.
