The US dollars is most desired currency and the most basic to the country's overall economy. It is advisable to bring US dollars only. Euro dollar and Singapore dollar are also acceptable at money changers.
Visa and Maaster can be used in some ATM. They are mostly located in private banks and airport money changer. There are currently over 600 ATMS and over 1,000 merchants who accept Visa cards located throughout the country, specifically around Yangon, Mandalay, Bagan, and Inle Lake. Visa cardholders can withdraw local currency from ATMs and use their credit cards at a growing number of major outlets such as hotels, restaurants, and retailers. Since 2012, travelers from over 100 countries have used their Visa cards in Myanmar.
Major merchants include but are not limited to:
Yangon Hotels: Sule ShangriLa, Park Royal Yangon, Chatrium, Sedona Hotel, Strand Hotel Restaurants: Green Elephant, Gekko Restaurant, L Opera Restaurant, Sky Bistro, Water Library, Vista Bar, 50th Street Café, Signature Dining, Union Bar and Grill.
Bagan Hotels: Bagan Lodge, Tharabar Gate, Aye Yar River Hotel, Bagan Thande Hotel.
Inle Hotels: Paradise Inle Resort, Paramount Inle Resort, Villa Inle Resort and Spa, Pristine Lotus Spa Resort.
Mandalay Hotels: 79 Living Hotel, Smart Hotel, Hotel Mandalay, Hotel Emperor, Pacific Hotel.
FEC, a state-issued proxy for the US dollar has been officially terminated.
Due to unexpected volume of tourist arrivals in 2012 and 2013, there has been a shortage of hotel rooms, and as a result, room rates has been skyrocketed during the peak season (October to March). Car rental, tour guide services, other tourism related services are virtually not affected.
Goods and services may be priced either in kyat or in US dollars. Hotel rooms, some train tickets, air tickets, car rental and guide services are generally priced in US dollars - for some of these services, US dollars may be the only currencies accepted. Duty-free items at the airport are also priced in US dollars. Local currency Kyat can be used to pay for taxis, buses and just about everything else .