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We offer holidays to the four corners of the globe. If you want specialist advise please phone our travel team and we will be happy to help.
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- Destinations
- Asia
- Myanmar
- Yangon
- Bogyoke Aung San Market
Bogyoke Aung San Market
Bogyoke is an important market for tourists arriving or leaving
Myanmar and not only for shopping, for this is the best place in
town to convert foreign currency. The official exchange rates of
the Myanmar kyat is kept artificially strong by the government set
rates. This has created a large black-market trade in the currency
at a much better price for tourists. The best place to change
currency is in the central jewellery section of the market. Most of
the shops provide the service and money exchanging hawkers line the
area waiting for tourists. To maximize the rates it is best to ask
several different vendors and bargain hard. Be careful to count
your money and do the exchange math yourself.
Once the tourists have money the market is a great place to buy
crafts, art work, jewellery or antiques. Popular souvenirs include
Burmese cigars, and old currency, some of which was issued in the
curious but numerologically auspicious denominations of 35, 70 and
90 kyat notes. It is open daily from 9 am to 5 pm and is centrally
located in downtown Yangon.
Information & Facts
Language
Burmese is the official language, yet English is widely
spoken and understood. Burmese's alphabet is made up of circular
and semi-circular characters. Other languages spoken are Karen,
Shan and Kachin.
Money
The official currency is the Kyat (MMK) pronounced 'Chat'. The
best currency to travel on in Myanmar is the US Dollar. The Foreign
Exchange Certificate (FEC) is a legal currency for visiting
tourists that is usable in government shops and hotels. It is no
longer a requirement to convert US$200 into FEC upon arrival in
Myanmar. One FEC is equivalent to one US Dollar. It is recommended
to use US Dollars. It is difficult to cash American Express
travellers cheques in certain cities, such as Mandalay, and even
when it is possible the commission can be as high as 10 percent. US
Dollar notes will not be accepted if they are damaged or torn in
any way, or have pen marks on them.
There is a big difference between the official and
unofficial exchange rates; street moneychangers offer
favourable rates at hotels and Scott Market. As a rough guide, the
black market rate is in the region of US$1 = MMK 1000 - a dramatic
difference when compared to the official government rate. Very few
major hotels, airlines, shops and restaurants accept credit cards
and ATM cards can rarely, if ever, be used. It is advisable to
carry cash. Banks are closed on weekends.