CURRENCY, EXCHANGE RATES AND BANKS KYAT AND US DOLLAR USAGE The kyat (pronounced ‘chat’) is the official currency of Myanmar, abbreviated as ‘K‘ or 'MMK' and usually placed before the numerical value (i.e. K500). Kyat come in notes (no coins) of value K50, K100, K200, K500, K1000, K5000 and K10,000. The US dollar, however, is used as an alternative currency, particularly for larger purchases: foreigners are sometimes expected to pay in dollars for hotels, high-end restaurants and flights (international credit cards can also be used for many of these purchases – for more information go to the bottom of this page). If payment is made in kyat for these transactions, it may sometimes be at a worse rate; when paying in dollars, change will often be given in kyat. Smaller purchases, such as taxi rides, buses and cheaper to mid-range meals are quoted and are almost always paid for in kyat.