Myanmar Currency Exchange Rate

As of 1 April 2012, Central Bank of Myanmar has officially float the kyat in the market. Currently, there is not much difference between the official rate and black market. Official rate now reflects the actual market rate.

If you look in the currency exchange rate websites on the internet, you will see the official currency exchange rate for Myanmar kyat at about 6.50 kyats per 1 US dollar. However, if you really try to buy US dollar at this rate, you will not be able to buy anywhere. Try to buy one US dollar at this rate in one of the banks in Yangon, and you will be looked at like a lunatic. In Myanmar, the official currency exchange rate is considered a joke. You can neither buy nor sell US dollar to Myanmar kyat at this rate anywhere in the world (this is not actually true as almost all the people in Myanmar will love to buy US dollar at 6.50 kyats a dollar!). No body knows why this exchange rate exists and why the government doesn’t change this official foreign currency exchange rate to reflect the actual market.

In any country with restriction in the free market, black markets appear. The same thing happen to Myanmar currency (kyat). There is a big and lucrative black market for Myanmar currency exchange. This is not only in Myanmar but also in other countries where Burmese people go and work. These include Thailand, Malaysia, Singapore, South Korea and Japan. However, in these countries, the currency exchange businesses operate in a form of money transfer services.

How can you change your US dollars into Myanmar kyat? Myanmar does not have open currency market, and a few authorized currency dealers operating in Myanmar pay too low for foreign currencies compared to the black market rate. So, the best way for a foreigner to change your money into Myanmar kyat is through one of the black market money exchanges found everywhere in Myanmar. The most common exchanges are in Yangon, mainly operating in Bogyoke Market, in the Mahabandoola Garden Street and along Sule Pagoda Road. You can also ask your hotel or guest house for exchange, either at them or through their contact.

How about officially exchanging your US dollars into Myanmar kyat? Well, you should better forget about it. At best, you will never be able to find one, and at worst, you will get only 6.50 kyats per US dollar.

If you are working as an expatriate in Myanmar, and holds a US dollar bank account in Myanmar, don’t ever think of changing the money into Myanmar kyat through official channel. You might end up with 6.50 kyats. So how can you convert your hard currency to Myanmar kyat? Well, there are many companies and black market traders who would willingly buy your US dollar currency in your account. All you need to do is to write a check payable to their account and they will give you Myanmar kyat at the current bank transfer rate. This is the rate the black market currency traders in Myanmar pay for your hard currency in your US dollar account in a Myanmar government bank. Usually, there is a slight difference between this bank transfer rate and the US dollar-Myanmar kyat street rate. Most of the time, the bank transfer rate is a few kyats lower than the actual US dollar note rate.

Like other markets, currency exchange rate in Myanmar is also influenced by many factors. However, due to restrictions and limitations on money transfer, currency exchange, trade restrictions and import/export restrictions as well as non-transparency in government policies, fluctuations in the Myanmar currency exchange rate is common and unpredictable, with many sharp rise and falls. For example, during last week, Myanmar currency gained more than 10 percent in a few days without any apparent reason. Such kind of black market currency fluctuation do occur quite frequently in Myanmar.

One of the most important factors that influence the Myanmar currency exchange rate between Myanmar kyat and US dollar is the ever changing restrictions on import and export. When the restrictions are tight on import, there is less demand for US dollar in the market, and the value of Myanmar kyat rises, without any strengthening in the Myanmar economy. When the import restrictions are relaxed, demand for US dollar rises and the value of Myanmar kyat falls. Because of frequent changes in import restrictions, the changes in the value of Myanmar kyat against US dollar is always changing.

For rate between Myanmar kyat and other currencies, it mainly depend on the US dollar and Myanmar kyat exchange rate. However, occasional fluctuation that does not reflect the US dollar rate sometimes occur, especially between Myanmar kyat and Thai baht, Singapore dollar and Malaysian Ringgit. As there are thousands of Myanmar people working and living in these countries, whenever there is a large volume of money transfer back to Myanmar in any of these countries, the value of Myanmar kyat against the currency of that country rises. This does not occur frequently, but occasionally occurs now and then. However, such kind of fluctuations are usually small.

Another factor that has important influence on Myanmar currency exchange rate is the influx of tourists to Myanmar, This usually occurs during the winter months when a lot of foreign visitors come to Myanmar. With these tourists come millions of US dollars into Myanmar, with the resultant fall in US dollar against Myanmar kyat. Some of the investors buy US dollar at this time of the year and sell back when the price come back to normal level.

Because of very few business opportunities for rich people, there is always intense speculations in the US dollar currency market in Myanmar. Sometimes, one of the big pockets decided to buy tens of thousands of US dollars to push the value of US dollar up, in order to trick other investors into buying large volume of US dollar notes. They will then sell back the US dollar with a higher price while the market is boiling.

Whenever there is a big fluctuation in the currency market, Myanmar government tries to intervene, even though this is occuring in the black market. Mostly, the government intervention is expected when the dollar value rises suddenly. Most of the time, this is in a form of ordering the big currency traders into stopping their business activities, and arresting those traders who disobey the order to close. With no one to buy or sell US dollar, the market finally calms down and settled to a certain value. (Forget about central bank rate. Myanmar does not have the reserved bank system).

With the current economic situation in Myanmar, there is no expection that the value of Myanmar currency will rise again. Although recently there is a sudden rise in the value of Myanmar currency, this rise is expected to be temporary, and iti s expected that the value will fall back to the previous value within a few weeks.

46 comments for “Myanmar Currency Exchange Rate

  1. k t
    June 19, 2011 at 7:22 pm

    Easily to know our currency. Good for us.

    • htun lynn
      September 22, 2011 at 7:46 pm

      ေက်းဖူးပဲ

      • soe
        January 26, 2012 at 6:03 pm

        ဒီကေန႕ေငြလဲႏွုန္းဘယ္ေလာက္လဲ

        • Kaday Kyaw Co., Ltd.
          June 6, 2012 at 12:08 pm

          I want to Know US Exchange Rate Todat.

  2. August 20, 2011 at 11:50 am

    myanmar exchange range currency.

  3. tl
    August 29, 2011 at 9:23 am

    why too low US dollar price & too high real-estate price in myanmar so i thick will face the crisis in soon.

  4. September 2, 2011 at 10:07 am

    ေက်းဇူးတင္ပါတယ္။ အခုလို ေဖာ္ျပေပးတဲ့အတြက္။

    • htun lynn
      September 19, 2011 at 6:53 am

      ေက်းဇူးဘဲ

  5. hansumon
    September 4, 2011 at 11:25 am

    Can you help me,please. today money exchange rate in yangon. how can I chart. I’dont know how to chart so can you show me, please.thanks you very much.

  6. September 28, 2011 at 10:04 pm

    hi …how to check it myanmar latest exchange rate ..i can “t find it ..please help to explain for me ..thanks a lot …

  7. aunghlathein
    October 19, 2011 at 3:34 pm

    away price pls,

  8. thuya
    November 13, 2011 at 2:01 am

    hi, i want to know myanmar latest exchange rate in black market.i don’t know how to search.how can u help me?thank u

  9. shamung maat
    November 22, 2011 at 2:26 pm

    black market street rate is 1 Us $ = 1200 Kyat ,

    • william low
      February 28, 2012 at 9:38 pm

      Is foreigner allow to invest properties in Myanmar?

      • March 8, 2012 at 4:55 pm

        Foreigners could not own land in Myanmar

  10. ့htetnaddy
    February 27, 2012 at 1:22 pm

    ဒီေန႕ေငြလဲနႈန္းသိခ်င္ပါတယ္

    • ့htetnaddy
      February 27, 2012 at 1:33 pm

      i want to know today usd to myanmar kyats exchange rate. i really don’t know how i search. please you help me.

    • January 4, 2013 at 8:22 am

      i want to know a bout money change to day

  11. February 27, 2012 at 10:25 pm

    like this page…& thank u….all.

  12. ye ye
    March 3, 2012 at 10:24 pm

    100bath to myanmar rate?

  13. John
    March 22, 2012 at 3:55 pm

    Can anyone help me where can i exchange my 10,000 Myanmar Kyat into Dollar or other stable currency ? Also what will be the exchange rate ? Thank you.

  14. myintkyi
    March 24, 2012 at 9:21 am

    i want to know myanmar lastest exchange rate in black market to daily

  15. sawmaung
    March 24, 2012 at 3:51 pm

    ဒီေန႔ေဒၚလာနဲဲ႔ျမန္မာေငြေစ်းနွုန္းေလးသိခ်င္ပါတယ္ ဘယ္ေလာက္ရွိျပီးလဲမသိဘူးခင္ဗ်ား

  16. March 25, 2012 at 12:21 pm

    1 bath what myanmar

  17. May 30, 2012 at 6:31 pm

    I want to know myanmar daily matterial. Thank

  18. moemoe
    June 5, 2012 at 11:03 am

    Dear sir,

    Mya I Know USD daily Rate , Export earning daily Rate and FEC daily Rate.

    Thanks
    Moe Moe

  19. moemoe
    June 7, 2012 at 2:36 pm

    Dear Sir,

    I want to know today export earning rate.

    Best Regards
    Moe Moe

  20. moemoe
    June 8, 2012 at 3:07 pm

    ဒီေန႕ ပို႔ကုန္ေရာင္းရ ေဒၚလာေစ်းေလးသိခ်င္လို႔ပါ

  21. thet
    June 11, 2012 at 4:06 pm

    Japanse Yen Exchange rate for today (11-06-2012)

  22. thuyaaung
    July 23, 2012 at 12:00 pm

    usကေနEuေျပာင္းတဲrateေလးသိခ်င္လိုပါ။ဒီေနေနာ္

  23. win aye
    July 27, 2012 at 2:58 pm

    may i know today singpore rate.please

  24. maythinzar
    September 1, 2012 at 1:53 pm

    ဒီေန့ ေငြလဲႏွုန္းသိခ်င္ပါတယ္ us ပါ

    • minnthway
      March 5, 2013 at 1:39 pm

      I want to know today myanmar currency exchange rate…please

  25. tinkyawlin
    October 13, 2012 at 6:47 pm

    ဒီေန႔ေငြလဲ
    နုန္းသိပါရေစလာ

  26. Thu Yein
    November 9, 2012 at 8:22 pm

    Dear Sir,

    Pls I want to know Singapore Exchange rate for today.

    Thank u.

  27. phyuthwalsoe
    November 10, 2012 at 11:12 am

    may i know US $ exchange rate for every changes

  28. Thaik Rot
    November 15, 2012 at 12:29 pm

    ဒီေန႔ေငြေစ်း…သိခ်င္ပါတယ္..

  29. wendy
    November 23, 2012 at 11:29 am

    Please tell me location of currency exchange in yangon. Thanks.

  30. naingnaing
    February 25, 2013 at 4:02 pm

    Exchang rate myanmar with other currency

  31. Moe Moe Khaing
    March 17, 2013 at 10:54 am

    Let me know today exchange rate for USD and FEC

  32. william soe lwin
    March 28, 2013 at 2:34 pm

    I want to know Korean Won and Myanmar kyat exchange rate.

  33. April 21, 2013 at 10:04 am

    today gold price in kyats

  34. khin chaw su
    August 14, 2013 at 10:52 am

    please i want to know myanmar kyat exchange rate 22 April 2013 day. thank you for your information contact gmail address: khinchawsu7@gmail.com

    • August 14, 2013 at 12:44 pm

      1 USD = 871.53 MMK on 22 April 2013. The rate is average mid point between buying and selling prices.

  35. anil
    December 2, 2013 at 10:26 am

    how price of gold
    today

  36. Shwe Maung
    February 10, 2014 at 9:37 pm

    Now one can exchange currencies in Myanmar at current rates, which are no longer black market. However there still is a difference between the offficial and real although it has gone the other way around.

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