Sending money to Myanmar is more of a challenge than it would be to send money to most other countries, if compared to other locations. There are still several good options available to you, however.
The current exchange rate for the Burmese Kyat (MMK) is 1416.618904 MMK per American Dollar (USD) as of the time this was written. The MMK reached a high of 1,450.3403 MMK per USD and a low of 1,405.1562 MMK per USD during the last 90 days. The 90-day average exchange rate was 1,421.5047 MMK per USD.
The average volatility rate for the MMK against the USD was 0.39% for the last 90 days. This is a moderate volatility rate. Going forward, you can reasonably expect moderate fluctuations to continue, barring any unforeseen circumstances.
The fastest way to send cash to Myanmar is through Ria Money Transfer’s fast option. With Ria Money Transfer’s fast option, your money should reach Myanmar in a matter of hours. Their rates are not normally too bad, either. Many of Ria Money Transfer’s slower competitors are also more expensive.
The cheapest way to send money to Myanmar is through XE. Like OFX, XE specialises in international currency conversion, and also offers very low rates for international currency conversions. You can use XE to send money to Myanmar while getting the best rates available.
The easiest way to send money to Myanmar is through TransferWise-supported SWIFT/BIC bank transfers. Bank transfers are not necessarily the easiest option. Regardless, once your TransferWise account is set up, it is easy to send money into the recipient’s bank account. It should be noted that this is also a more secure method when compared to many other options.
The overall best way to send cash to Myanmar is through a TransferWise-supported bank transfer. Once the sender’s account is set up and linked with the recipient’s bank account, transfers are very easy to make. This option is good because it provides a generally well-rounded deal while also being secure and easy to use. The TransferWise platform makes the process fairly simple as well. When all variables are considered, TransferWise bank transfers are the best way to send money to Myanmar. We’ve compare TransferWise vs XE to help you identify the best provider for your needs.
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com