Cash
Myanmar's local currency is the Kyat, pronounced as "Chat", although the "Mighty Dollar" will gain favour with vendors and hotel owners.
There are no local coins and Kyat notes come in denominations of:
1, 5, 10, 15, 20, 45, 50, 90, 100, 200 and 500.

PLEASE NOTE:
All bills should have the word "Myanmar" on them and not "Burma". If you are offered the latter, refuse them and only accept the newer currency.

Upon entry into Myanmar, tourists are required to exchange a minimum of $200 (U.S.) for Foreign Exchange Certificates* (FEC), with the face value of the FEC's equal to the U.S. dollar. Any amount over $200 may be exchanged back to U.S. dollars but the first $200 remains as FEC's. Essentially your trip to Myanmar will cost a minimum of $200.

*As of April 2003, the Burmese government has decided to phase out the FEC system. Please check with local travel companies for the latest....

Credit Cards & Travellers Cheques
In short - a huge pain in the arse!
There are no ATM's in Myanmar and the cashing of a travellers cheque is about as easy as climbing Everest! Some travel agents will give cash advances on major credit cards but they will charge astronomical commision fees. Emergencies only!