Exchange Rate: 1 USD to Myanmar Kyats (MMK)
Are you planning a trip to Myanmar or doing business with a company based in the country? One of the essential things you need to know is the exchange rate between the US dollar (USD) and the Myanmar kyat (MMK). In this article, we will discuss the current exchange rate and provide you with some valuable information about the Myanmar kyat.
Current Exchange Rate: 1 USD to MMK
As of the current date, the exchange rate is:
1 USD = 1,320 MMK
Please note that exchange rates can fluctuate frequently and may be different at the time of your transaction. We recommend checking the latest exchange rate before making any conversions.
History of the Myanmar Kyat
The Myanmar kyat is the official currency of Myanmar, also known as Burma. It was introduced in 1952, replacing the Burmese rupee. The kyat is divided into 100 pyas. Although the pya is still used, it is not commonly used in everyday transactions.
Currency Symbol and Subunit
- Currency symbol: K (abbreviated as "kyat" or "MMK")
- Subunit: pya (1 kyat = 100 pyas)
Currency Restrictions
Myanmar has strict currency regulations, and the kyat is not freely convertible. The government has implemented measures to control the exchange rate and prevent currency manipulation. As a result, it's essential to exchange currency through authorized dealers, such as banks or licensed money changers.
Tips for Exchanging Currency
- Use reputable currency exchange services to avoid scams or poor exchange rates.
- Exchange currency upon arrival in Myanmar, as the rates are generally more favorable than in your home country.
- Have your USD bills in good condition, as worn or damaged bills may not be accepted.
Conclusion
Understanding the exchange rate between the US dollar and the Myanmar kyat is crucial for anyone planning to visit or do business in Myanmar. By knowing the current exchange rate and being aware of the country's currency regulations, you can make informed decisions and avoid any potential issues with currency exchange.
