Currency in Myanmar: exchange, import, money. What is the currency in Myanmar?
Currency in Myanmar
Like many other states in the region (south and southeast of Asia), Myanmar was ruled by British colonialists for many years. This meant that every instance in the country was regulated by foreigners. Therefore, in addition to local currencies, pounds sterling were in use among the population. Although, for the most part, due to their poverty and simplicity of farms, the population exchanged products using the principle of barter. Own money in Myanmar appeared only after gaining official independence immediately after the end of World War II, the currency was named - kyat. The lesser monetary unit is drunk. 100 p'ya equals 1 kyat.
Funds in Myanmar
Back in the 18th century, kyat was a common unit of monetary measurement in several countries of Indochina, including the territory of modern Myanmar. In the middle of the 19th century, the local kyat was equated to the Indian rupee, which was closely related to the British pound sterling. After the formation of the so-called British India was announced, many states that were not part of India were united not only territorially, but also economically. Now, throughout the gigantic area of this area, the Indian rupee was recognized as the main currency. But by the middle of the twentieth century, the Burmese rupee was printed on the territory of Myanmar (Burma).
With the outbreak of World War II and the occupation by the Japanese Empire, the Japanese occupation dollar was introduced in Myanmar, followed by the Japanese occupation rupee. After the end of the occupation, the Burmese rupee returned, which was finally replaced by the kyat in 1952..
Nowadays, tourists and locals alike make do with more than just kyat. In addition to the local currency in Myanmar, it is customary to pay in US dollars. This fact ensured the emergence of a huge number of exchangers in large cities, so you shouldn't have any problems with currency exchange in Myanmar..
Importing currency into Myanmar
There are serious restrictions in Myanmar regarding the import and export of the local currency, the kyat. Rather, it is impossible to import or export it at all. But you can bring any amount in foreign currency, only you need to declare large amounts in advance, from 2000 US dollars.
What currency to take to Myanmar
As mentioned above, many services in the country can be paid in dollars, so taking this particular currency would be the best solution. Although there are exchange offices in many cities and it will not be difficult to exchange other foreign currency for local.