Exchange Rate
CurrencyBuySell
USD
EUR
SGD
THB
Foreign Remittance
  • Inward Remittance (money transfer from Oversea to Myanmar)
    • Types of Usage
      • used for conducting  transactions for trading activities
      • used for crediting the seller’s A/C
  • Outward Remittance (money transfer from Myanmar to Oversea)
    • Types of Usage
      • used for purchase of imported goods
        • either import license or import permit is required
      • used  for the transfer of salaries of expatriate staff
      • used for the transfer of management fees by investment companies
      • used for air tickets sales by foreign airlines
      • used for the transfer of the profits gained by foreign companies
      • used for the transfer of insurance premiums
      • used for the equities or shares transfer for liquidation of foreign companies
      • used for the transfer of advertising revenues
Notes

Remittances except for the purpose of import are conducted with the permission of the Foreign Money Management Division of Union of Myanmar Central Bank.

Remittances from Malaysia to Myanmar
  • AGD Bank, aiming at facilitating the remittances of the salaries of Myanmar citizens legally working in Malaysia, has commenced to co-operate with May Bank, CIMB Bank, International Money Express(IME) Counters in Malaysia for remittances.
  • Beginning from April 2012, not only the branches of May Bank but also the Agent Counters of May Bank bearing MME logo are providing remittance service for Myanmar.
  • In performance of remittance transactions, the clients can, in addition to withdrawal of the remittances in cash, open an A/C with any Bank branch of AGD for direct transfer of remittances from Malaysia.
    • (The remittances form is to be filled correctly as regards to the A/C number as well as the clients option of cash withdrawal or A/C transfer. Unless the direction has not been given for A/C transfer, the client can cash out only for  the remittance.)
  • Upon performing remittance transactions, the prevailing exchange rate from Malaysia Ringgit to US Dollar shall be agreed on. However, the remittances will be conducted in Myanmar currency at the prevailing exchange rate from US dollar to Myanmar Kyat.
  • The clients in Myanmar shall come to the Bank in person, bringing along the NRC card. The client shall know the code number informed from Malaysia client. There will be 16 digits for May Bank Code and 11 digits for IME Code.
  • Those wishing to send remittances from Malaysia are required to produce the documents as prescribed by their side.
  • The service charges for remittances are mentioned hereunder:
(a) Maybank Money Express (MME)

Amount of Remittance (USD)              Service Charges (Ringgits)
1 to 500                                                     15
501 to 2,000                                              30
2,001 to  3,000                                          60

(b)  International Money Express (IME)

Amount of Remittance (Ringgits)          Service Charges (Ringgits)
1 to 1,500                                                  15
1,501 to 3,000                                           20
3,001 to 5,000                                           30
5,001 to 8,000                                           40
8,001 to 10,000                                         50

The banks in Malaysia that offer remittance service
  • May Bank (its branches and MME counters)
  • CIMB – Commerce International Merchant Bank (CIMB Bank Branches)
  • International Money Express (IME Counters)
Remittance from Thailand to Myanmar
  • AGD Bank in Myanmar and Karsikorn Bank (K Bank) in Thailand have started remittance activities beginning from 1st June 2013 to facilitate remittances for Myanmar citizen working legally in Thailand.
  • If remittances are to be conducted, the following particulars and document are needed: the remitter’s
  • Name
  • NRC No.
  • Telephone number (so that information can be sent for the receiving of remittances)
  • Township Name to which remittances are to be sent

For withdrawal of remittances, the following measures are to be taken:

  • The receiver shall come in person bringing the original NRC Card.
  • The cashing out of the remittance will be exchanged with the prevailing purchase rate of US dollar from the AGD Bank’s exchange counters.
  • The remittances can be received within a day.
Remittance Service Charges

The remittance rates are as follows:

  • Amount of Remittance             Service Charges
    USD 100   to   USD 3,000              200 Bahts
  • The Banks and their branches or K Bank ATM’s in Maha Chai, Bangkok, Samutsakorn, Samutphakarn, Pathumthani, Nonthaburi, Chonburi, Rayong, Chiang Mai, Suratthani, Songkha, Phukhet, Tuk, Chumporn, Ranong and Kup areas.
  • Up to USD 3,000 or Baths 90,000 can be transmitted a day.
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