Is the new $100 bill that went into effect recently, the only one banks will accept? I'm traveling in mid January.
#1 Sherwood has been a member since 10/10/2013. Posts: 4
You had a problem with 100s? I had no problem at all. Any of the major banks were happy to exchange for them as well as the hotels that I stayed at for a few nights.
Sherwood, I can't answer that question but would assume that the major banks are up to date with the latest versions of US $100s. Bring a mix of them (in perfect condition) and have a visa or mastercard debit card as a backup.
I had no trouble exchanging $100's into kyat at the bank branches. Also used them a few times at hotels to pay for flights, hotel rooms etc without any problem (and got my change in smaller USD notes).
Not sure about whether or not they have to be the latest.. I wouldn't chance it though - get the new ones. I had a bit of a battle with a money changer in KL to try to get new, unblemished bills. He eventually relented, pulling a stack of shiny bills from the bottom of his drawer.
Anyone have experience using the newly issued US 100 bill?
#5 dslash01 has been a member since 9/6/2011. Posts: 4
I just came back from Burma two weeks ago and I had no problem with exchanging the new $100 bill. I had it exchanged at the Mandalay airport.
#6 mizzfoo has been a member since 26/11/2013. Posts: 1
A friend arrived at Mandalay last week with the new bills. The first exchange booth refused them because they were "too new". The second exchange booth exchanged them no problems at all.
You'll be fine.
#7 somtam2000 has been a member since 21/1/2004. Location: Indonesia. Posts: 7,706
Send somtam2000 a private message Where has somtam2000 been? Website Twitter Facebook Flickr Google+ Instagram Pinterest
It has long been the advice passed on to visitors to Burma: Bring crisp US dollars, nothing else is accepted here.
But the continuing insistence of money changers that cash is untainted threatens to stain the countryâ€™s reputation in spite of economic reforms.
Many ticketing agencies, airlines, small currency exchange shops and private banksâ€™ exchange counters will turn away old or damaged, or even slightly crumpled, dollars. Imperfect currency might be accepted, but often at much lower exchange ratesâ€”despite strictly bearing the same value.
#8 dannyjacob has been a member since 10/2/2014. Posts: 21
It's too late for you now Sherwood as you have probably been and gone by now but for others....
We were there is January and the new bills were accepted everywhere. Note though, even in the big banks, the lower the denomination of a US note, the lower the exchange rate. e.g, (and not current rates) $100 and $50 notes were about 880k, $20-$10 notes 860k etc.
Be very careful if you receive US dollars for change that they are pristine or else you are stuck with them. It's a way the locals offload dirty, creased or marked bills. You will have to bring them home or use in another country so not all bad.
We saw a lot more ATMs around in the larger cities and towns than I was expecting. We bought all our money with us so didn't have to try one. We assume they worked, but with patchy internet in a lot of places, we were glad we didn't have to rely on them. They are a good back up thought if you run out of cash I'm sure. We even found 3 at the Shwe Dagon temple in Yangon!
No credit cards accepted in any of the supermarkets we went to.
If you're going, you will enjoy the places and the people. It's great.
#9 pete61 has been a member since 27/9/2009. Posts: 39
Following a re-read of Sherwoods intial post...
No. Banks, money exchanges and businesses will accept both old and new notes as long as they are pristine.
#10 pete61 has been a member since 27/9/2009. Posts: 39
My gal and I just left Myanmar today after 28 days and we're off to Cambodia tomorrow. Everything Pete said is spot on. I carried a bunch of pristine bills and used the local currency nearly the whole time, the exception being the gov't entrance fee for Inle Lake (where they literally hit us coming of the bus for $10 each) and the $1 for circle train in Yangon. You will also get hit up in Bagan when you go to that real touristy pagoda, your guesthouse will give you the name. As for us we avoided it and never got asked anywhere else. I do think it's loosening up as I was able to exchange a rolled up crinkled bill from my money belt after "smoothing" it out. Have fun. I'll be happy to answer any other questions, when I can.
#11 Sherwood has been a member since 10/10/2013. Posts: 4
Actually, you get more money for big bills. I had no problem whatsoever with $100 bills as long as they don't have any markings/folds/ceases.
#12 JackDan has been a member since 24/2/2014. Posts: 2