One of many weird things about Burma is that there is no licensed money changer here. You can change money at the airport, but the rate is very low. I decided to change in the city instead.

I arrived at Kenneth’s place at around 6pm. According to him, the money changer he knows is closed already. As he was cooking us dinner, I wouldn’t have to spend money. By cooking, Kenneth meant ordering fried rice from outside, and boiling the hot pot ingredients he bought in the afternoon. He didn’t even put salt into the boiling water, but well, it’s another story. I was hungry & exhausted, his courage & good-will should be highly appreciated  

After dinner, we walked around downtown. I was taking some pictures while keeping my eyes on everyone to see if there was any undercover policeman anywhere when an Indian man approached me. He asked if I wanted to sell dollars at the rate of 1 USD : 1000 Kyat. I didn’t know the exact rate so I wanted to check first. Another guy soon approached and offered 1 USD : 950 Kyat, so I returned to the first guy. I told him I wanted to change $100, and he said it’d be 970; 1000 only if I changed $200 or more. I didn’t like the way he worked, so I walked away. He called after me to say 980.

I realized that if you walk around with a camera in hand or you look like a stupid tourists, there will be a lot of men like approaching you to offer money exchange. Most of them are Indians. They work as middle men between you and black market money changers. The rate ranges from 1 USD to 950 or 1020 Kyat. This morning, as I walked out of my friend’s place, another guy approached me. He offered 1000 for $100. Kenneth asked if he’s sure, he said yes at first, but after few questions, he said that he had to ask his boss. He had us walked for about 10 minutes from our place to his boss’s place. Below is his boss’ place. There are a lot of money changers and travel agencies there.

His boss offered the rate 1020 for $200, and refused to accept $100. Another guy passed by and told me 980 but I was already sick of those middle men. I decided to go to Central Hotel to change instead. There they offered me 970. I gave her $100 but she didn’t give me kyat back. Kenneth and I thought that the money was on the way so we waited. After about 15 minutes, Kenneth decided to ask if she forgot. Her face turned red and her eyes directed to a man sitting there. It turned out that she was doing the money exchange illegally and that man was her boss, so she couldn’t do that when he was there. Finally he went up and she gave me the money. I must say, I was shocked! I’ve never had that much money in my life. Inflation is worse in Vietnam, but we have big note. The biggest note here is 5000, but it’s not widely used so most people use 1000 note. I got 97 of them. They are too big & too thick to be put inside my wallet, and it’s too flaccid to put it anywhere. Now I understand what my friend meant when he said that when he left Myanmar, he didn’t know what to do with the money so he used it to make paper planes. Myanmar Kyat is only valid inside Myanmar.

Thanks God I only changed $100. But things are not that easy for Kenneth. Debit and credit cards are no longer used in Myanmar, so Kenneth has to receive his salary in cash. Imagine that you receive 1kg of cash every month!

Tags: Burma, Kyat, Money, Myanmar, Yangon