Ruth Haines
There are no restrictions on the amount of cash that can be carried when entering Myanmar. However, nationals of Myanmar must declare all foreign currencies, regardless of the amount, by filling out a Foreign Exchange Declaration (FED) form. Foreigners must declare amounts exceeding US$10,000 or its equivalent. Currency exchange is available at official money changers, banks, or authorised counters at airports and hotels. US dollars are the easiest foreign currency to exchange, but only clean, undamaged notes are accepted. While some high-end hotels accept credit cards, restaurants and travel agencies only take cash.
| Characteristics | Values |
|---|---|
| Restrictions on the amount of money | There is no restriction on the amount of cash that can be carried into Myanmar. Nationals of Myanmar must declare all foreign currencies by filling up a Foreign Exchange Declaration (FED) Form. Foreigners must declare amounts exceeding US$10,000 or its equivalent. |
| Currency exchange | US dollars are the easiest foreign currency to exchange. Currency exchange can be done at official money changers, banks, or authorised counters at airports and hotels. |
| Payment methods | Cash is king in Myanmar. While some high-end hotels will accept credit cards, restaurants and travel agencies will only take cash. |
| Visa | Myanmar offers an eVisa for over 100 countries for $50. Ordinary passport holders from select countries do not require a visa for tourist visits of up to 14 days if entering and departing from Yangon, Mandalay, or Naypyidaw International Airports. |
| Accommodation | Guesthouses are easy to find, cheap, comfortable, and ideal for travellers on a budget. In Yangon and Mandalay, simple guesthouse rooms can be found for $20 to $40 per night. 3–4-star hotels in these cities are available from $60 to $100, while luxury hotels start from $150 per night. |
| Transportation | In Yangon, taxis are the easiest way to get around, with fares starting from $10 for airport trips. In Bagan and Myanmar's beachside resorts, transportation options include horse carts and bicycles, with travel costs ranging from $5 to $20+ per day. Long-distance buses, such as Yangon to Mandalay, cost $13-$22. Return flights between these cities start from $290. |
| Prohibited items | Counterfeit currency and goods, pornographic materials, narcotic drugs, playing cards, goods bearing the emblem of Buddha or the Myanmar flag, arms and ammunition, antiques, endangered wildlife species, and more. |
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What You'll Learn
There are no restrictions on the amount of cash you can carry
When travelling to Myanmar, there are no restrictions on the amount of cash you can carry. However, it is important to note that only clean, crisp, and undamaged US dollar bills are accepted for exchange. Other currencies, such as euros and Singapore dollars, may be exchanged at select locations, but the rates can vary.
Myanmar's Yangon Airport provides a separate terminal for domestic and international flights. The international terminal has facilities such as a bank and a bureau de change, making it convenient for passengers to exchange currency upon arrival. Nationals of Myanmar must declare all foreign currencies, regardless of the amount, by filling out a Foreign Exchange Declaration (FED) Form. Similarly, foreigners must declare amounts exceeding US$10,000 or its equivalent on the FED form when entering and exiting Myanmar.
It is recommended to carry most of your spending money in US dollars when visiting Myanmar. While ATMs are now widely available in Yangon, Bagan, and tourist hotspots, they are often unreliable and have low withdrawal limits, resulting in additional bank fees. Additionally, while some upscale hotels accept credit cards, restaurants and travel agencies predominantly accept cash.
To avoid running out of money during your trip, it is advisable to plan your expenses thoroughly. Prices in Myanmar have increased significantly, with hotel rates rising by 30% from the previous year. Carrying a mix of US dollars and the local currency, kyat, is recommended. Exchanging a portion of your dollars into kyat can be done at the official exchange place next to the Monsoon in Yangon or at currency exchange shops during your travels.
In summary, while there are no restrictions on the amount of cash you can carry into Myanmar, being well-prepared with the right currencies and adequate funds will ensure a smooth and enjoyable travel experience.
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Foreign currencies over $10,000 must be declared
There is no legal restriction on the amount of foreign currency you can bring into Myanmar. However, foreign currencies exceeding US$10,000 (or equivalent) must be declared by filling up a Foreign Exchange Declaration (FED) Form. This rule applies to both the entry and departure from Myanmar. Nationals of Myanmar must declare all foreign currencies regardless of the amount.
The FED form must be submitted to customs, and the foreign currency must be deposited at an authorized dealer bank within 3 months of arrival. Currency exchange is best done at official money changers, banks, or authorized counters at airports and hotels. US dollars are the easiest foreign currency to exchange, but only clean, undamaged notes are accepted. Exchange counters may refuse US dollars with the letters AB and CB at the beginning of the serial number.
Other currencies such as euros and Singapore dollars may be exchanged at select locations, but rates can vary. It is important to note that exporting the local currency, Kyat, is not allowed. Any unspent Kyat should be converted before departure.
Myanmar's largest and most modern airport, Mandalay Airport, is located 35kms south of Mandalay and features a bank and bureau de change. Yangon Airport, 16kms/10miles north of downtown Yangon, also has a separate terminal for international flights.
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Myanmar nationals must declare all foreign currencies
There is no restriction on the amount of cash that can be carried into Myanmar. However, Myanmar nationals must declare all foreign currencies, regardless of the amount. This is done by filling out a Foreign Exchange Declaration (FED) Form, which must be submitted to customs upon entering and departing Myanmar. All foreign currencies declared must be deposited at an authorised dealer bank within 3 months of arrival.
The requirement to declare all foreign currencies helps the CBM regulate the flow of foreign currency in and out of the country. It also enables the CBM to monitor and control the exchange rate between the Myanmar kyat and other currencies. By requiring Myanmar nationals to convert their foreign earnings into MMK, the CBM can increase the demand for the local currency and influence its value.
In addition to declaring all foreign currencies, Myanmar nationals should be aware of other currency-related restrictions when travelling. For example, the export of kyat is not allowed, and any unspent local currency should be converted before departure. It is also important to note that only clean and undamaged US dollar notes are typically accepted for exchange, and even then, some notes with specific serial numbers may be refused.
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Exchange US dollars for kyat in Yangon
There are no legal restrictions on the amount of foreign currency you can bring into Myanmar. However, nationals of Myanmar must declare all foreign currencies, regardless of the amount, by filling up a Foreign Exchange Declaration (FED) form. All foreigners must declare amounts exceeding US$10,000 or its equivalent, which must be submitted to customs upon entering and exiting Myanmar.
When it comes to exchanging US dollars for kyat in Yangon, it's recommended to use official money changers, banks, or authorised counters at airports and hotels. US dollars are the easiest foreign currency to exchange in Myanmar, but only clean, undamaged notes are accepted. Exchange counters may refuse US dollars with the letters AB and CB at the start of the serial number (the top left-hand corner of the note).
It's important to note that exporting kyat is not permitted, and any unspent local currency should be converted before leaving the country. Other foreign currencies, such as euros and Singapore dollars, can also be exchanged at select locations, but the exchange rates may vary.
If you're entering Myanmar through Yangon International Airport and require a visa, holders of ordinary passports from certain countries do not need a visa for tourist visits of up to 14 days. However, if you plan to stay longer or enter through a land border checkpoint, you must apply for the appropriate e-Visa.
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Withdraw cash before arriving in Myanmar
There is no restriction on the amount of cash you can carry into Myanmar. However, it is recommended that you withdraw cash before arriving in Myanmar. While ATMs are available in Myanmar, there are some considerations to keep in mind.
Firstly, it is important to carry cash in addition to relying on ATMs. While new ATMs are popping up weekly at banks across the country, they may not always work reliably. It is common to encounter non-working machines, and there may be connection issues or errors during transactions. Therefore, it is advisable to have a backup plan and carry some cash, preferably in US dollars, to avoid solely depending on ATMs.
Secondly, when using ATMs in Myanmar, be cautious about transaction fees and exchange rates. Some ATMs will charge a commission fee, which includes a service fee from the issuer and a fee from the local bank in Myanmar. Additionally, the exchange rate for foreign currencies at ATMs can be unfavourable. You may consider using money exchange services, such as Northern Breeze, or seeking out black market exchangers for a better rate, but be cautious and aware of the risks.
Moreover, when using your card at ATMs, be vigilant and discreet. Keep a close eye on your card during transactions to avoid any illegal activities, and be aware of your surroundings before conducting any banking transactions. It is also recommended to inform your bank about your travel plans to avoid potential card blocks due to security concerns.
Lastly, ensure that you carry cash in a safe manner. Crime rates in Myanmar are relatively low, but it is still important to keep your money secure. Try to keep your cash out of sight and avoid carrying large sums in your backpack or wallet. Consider splitting your cash into smaller bundles and distributing them around your luggage to minimise loss in case of theft.
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Frequently asked questions
There is no restriction on the amount of cash that you may carry into Myanmar. However, amounts over US$10,000 (or equivalent) must be declared on a Foreign Exchange Declaration (FED) form upon arrival and departure.
The local currency in Myanmar is called kyat. However, it is recommended that you bring US dollars as it is the easiest foreign currency to exchange.
Currency exchange is best done at official money changers, banks, or authorised counters at airports and hotels.
