FAT_AUSSIE Posted October 26, 2007 Report Share Posted October 26, 2007 I just recieved an e-mail to this link http://www.rba.gov.au/MediaReleases/2007/mr_07_19.html Does'nt really bother me coz I aint goint to Burma. Although I knew there were sanctions on transactions with Burma this media release indicates to me that financial transactions previously wer'nt sanctioned. What I question is if I traveled to burma and exchanged money legally ie: licenced money changer (if) would I still be able to change my AUD or does this apply to money transfered though an Australian based intermediary bank? Given that Australia has taken these measures I guess most other countrys will do the same. If so how does one go to and spend money in Burma? I don't wan't to sound naiive but I've only been there once and otherwise never travelled to a sanctioned country before. Fa... Link to comment Share on other sites More sharing options...
Julian2 Posted October 26, 2007 Report Share Posted October 26, 2007 They're still taking Thai baht at Tachilek and I can't see them refusing any sort of hard currency, (Americans are advised to take Aussie dollars, Pounds or Euros). Link to comment Share on other sites More sharing options...
Flashermac Posted October 26, 2007 Report Share Posted October 26, 2007 Have you actually tried unloading old Aussie pounds on them? Link to comment Share on other sites More sharing options...
Julian2 Posted October 26, 2007 Report Share Posted October 26, 2007 Don't try to be smart just because your dollar is being challenged by currencies like the Kip. Link to comment Share on other sites More sharing options...
YimSiam Posted October 26, 2007 Report Share Posted October 26, 2007 I recall going to the bank window in Yangon in 1995 to ask about the exchange rate - I think I needed proof of exchange for the train or something, or it was still FEC era, I don't recall. Anyway, the teller quoted the official rate (around 6 to the dollar, I think) but then immediately said: 'Don't worry, I can give you the market rate, 125/dollar, and make a receipt at official rate... No problem.' And we did black exchange right there at the principal gov't exchange window, with a bogus receipt to boot... I understand that the nonsense official rate still exists, many multiples lower than market, but can't comprehend how this fantasy rate does not completely fuck up any formal investment in the country? How do they calculate anything, or do they simply not convert into kyat? The massive late 1980s demonstrations were sparked by Ne Win's overnight cancellation of all 50 and 100 kyat notes, ostensibly to thwart anti-socialist money hoarders -- the effect was to piss off people at every possible level of society (not the mention adding several degrees of mathematical difficulty to the simple act of making change, by replacing the 50 and 100 with 45 and 90 kyat notes... madness...). The Burmese are resourceful people, by necessity - I'm sure whatever hard currency you bring in will still be easily exchanged on the black market. YimSiam Link to comment Share on other sites More sharing options...
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