So, you’ve made the decision. You’re coming to Myanmar. Good choice! The country is one of the world’s less visited. Here are some numbers for you. In 2010, 791,505 guests visited the country, or in other words, about 66,000 people per month on average. Its neighbor Thailand received 15,936,400 guests, accounting to about 1,328,000 people per month. More people visit Thailand per month than Myanmar in an entire year! But the numbers are already rising. There is already a 4.88% increase in visitors in the 2010-2011 fiscal year, compared to 2009-2010. And this year is not even over yet.

Nonetheless, Myanmar is still an exotic country to visit. You will definitely not be disappointed. But it is good to know about the country’s handling of money. It will go a long way into defining your trip and ensuring that your time is not wasted on money that is deemed ‘worthless’ by the locals. What do we mean? Let’s take a look.

First of all, do not exchange all of your U.S. Dollars. The country actually accepts them, including some of its national currency, the Kyat (K). Keep in mind that Myanmar is a cash orientated country, so you may need to carry a little more than what you need, just in case. Many vendors and shops (including hotels) may not accept credit cards and even more do not accept traveler’s cheques.

If and when you do exchange money, avoid doing so at airports and banks. The going rate there floats around 6K to $1. But outside, you can get better rates (and according to the country’s newspaper, The Irrawaddy, a more accurate exchange), which in 2011, fluctuated anywhere in the 900 to 600 Kyats to a Dollar range.

You may have heard about the country’s persistence on using crisp U.S. Dollars. The truth cannot be stressed enough. You will have to inspect your Dollars to make sure that:

• they are in mint condition, as brand new as possible
• they are not folded
• are free of any pen marks, counterfeit ink, stamps, etc.
• are of the new design

Make sure you do this every time money exchanges hands. Please also note that $100 bills with CB serial numbers may not be accepted because they were once counterfeited.

A general rule is that Dollars are your safe bets, and are generally good for hotels, attractions and public transportation while the Kyat is good for more ‘local’ things like trishaws, food and the like.

So, there you have it. Before heading off to Myanmar, just make sure you have your money situation sorted out. It’ll go a long way in ensuring you have a good and memorable time in the country. It may sound like a chore, but everybody in the country follows these procedures. Perhaps it is one way to assimilate yourself into the typical Burmese way of life.

Two weeks is about right for you to really get a grasp on Burma. The best antidote for that is our very own highly acclaimed The Very Best of Myanmar tour. All the main destinations will be covered, as well as the hidden sites. For more on the country, check out our Myanmar tours.

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