http://travel-t-o-myanmar.blogspot.com/2011/10/money-exchange-for-myanmar-services.html
Money Exchange for Myanmar -Services - Money
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Myanmar Money
Currency: Kyat (Kt) = 100 pyas. Notes are in denominations of Kt1000, 500, 200, 100 and 90 pyas. Coins are in denominations of Kt1, and 50, 25, 10, 5 and 1 pyas. Kt100,000 is known as a lakh, and Kt10 million as a crore. Kyat is pronounced like the English word ‘chat’. To combat the black market and limit the financial power of dissident groups, currency denominations are occasionally declared invalid without prior notice. Limited refunds are usually allowed for certain sectors of the population.
Currency exchange
Individual tourists are required on arrival at Yangon international airport to exchange a minimum of US$200 into FECs (Foreign Exchange Certificates). Any unused foreign exchange certificates out of this amount will not be converted (though FECs in excess of US$300 can be reconverted on departure). Visitors on a package tour are not subject to this requirement, but if they wish to spend extra money in Myanmar, they can also exchange US Dollars for FECs.
FECs, which are printed in China, are Myanmar’s second legal currency and are issued by the Bank of Myanmar specifically for visiting tourists. They come in denominations equivalent to US$20, 10, 5 and 1. Payment for FECs is only accepted in US Dollars. One US Dollar equals one FEC. FECs can be exchanged into Kyats at officially authorized banks, bureaux de change, hotels and Myanmar Travel and Tour offices and can be spent anywhere in the country.
