It’s from Myanmar. CENTRALBANKOFMYANMAR means the Central Bank of Myanmar. Generally, 1 yuan can be exchanged for about 1,997.885 yuan in Myanmar currency.

The currency of Myanmar is referred to as the kyat or kyat, which is called KYAT (Chinese pronunciation: KYAT). The denominations of Myanmar Kyat banknotes are 1,000 Kyat, 500 Kyat, 100 Kyat, 50 Kyat, 20 Kyat, 15 Kyat, 10 Kyat, and 5 Kyat. The denominations of coins are 5, 10, 25, 50 cents, and 1 kyat, the unit of minor currency is cents, 1 kyat = 100 cents. In Myanmar, only U.S. dollars and euros can be freely exchanged for kyats and can circulate freely. They can be used to pay for ferries, air tickets, hotels, museums, etc., while kyats are only used for small transactions, such as buying water, renting cars, etc. For Chinese tourists, it is best to bring U.S. dollars when going to Myanmar. Any amount exceeding 2,000 U.S. dollars must be declared. There are no other restrictions because RMB cannot be circulated and exchanged for kyats in Myanmar. In addition, tourists are not allowed to carry kyats into and out of the country.

1. The official exchange rate of the kyat is generally 6.312 kyat per US dollar, while the private exchange rate is lower. 1 US dollar can be exchanged for about 800-850 KYAT, or higher. After arriving in Myanmar, tourists can go to banks, airports, hotels, shops, travel agencies, or the Myanmar black market (private and underground banks) to exchange for currency. The exchange rate also fluctuates to a certain extent depending on the face value of the U.S. dollar. Generally, the larger the face value, the higher the exchange rate. Large bills of US$100 are worth 30-50 kyat more than small bills of US$50 and below. Also note that Burmese only accept clean and unstained US dollars. Dollar bills that appear to be more worn will be rejected. For credit cards, Myanmar’s high-end hotels, restaurants, airports, travel agencies and other commercial institutions generally accept credit cards. Except for Master Card, which cannot be used in Myanmar, other cards such as VISA and American Express can be used. In some regional central cities, you can withdraw cash by credit card. But a certain handling fee will be charged. China UnionPay cards cannot be used in Myanmar.

2. Myanmar has five state-owned banks, namely: Central Bank of Myanmar (established in 1948, formerly known as the Union Bank of Myanmar, and renamed the Central Bank in 1990), Agricultural Bank of Myanmar (established in 1953), Myanmar Bank Economic Bank (established in 1967), Myanmar Foreign Trade Bank (established in 1967) and Myanmar Investment and Commercial Bank (established in 1989). Since 1992, private banks have been allowed to open, and in recent years, foreign banks have been allowed to set up representative offices in Myanmar. The Central Bank of Myanmar said in a notice that in order to promote the development of international payment and settlement and border trade, it is allowed to use RMB and Japanese yen as settlement currencies for international payments. Except for licensed banks, other institutions and individuals are not allowed to open RMB and Japanese yen accounts for the time being. A person in charge of the Central Bank of Myanmar said in an interview with a reporter from Xinhua News Agency that after the inclusion of RMB as a settlement currency, payment and settlement of border trade between Myanmar and China will be more convenient. China and Myanmar have long been important trading partners for each other. Previously approved official settlement currencies in Myanmar include the euro, US dollar and Singapore dollar.