There are only a handful of money changer in this building. I probably went to 4 or 5 to enquire the rates. I was lunching at Golden Mile also known as Little Thailand with my friends. There are many money changers there where you would find competitive rates for popular currencies like Thai Baht and Malaysian Ringgit. Malaysian Ringgit because Golden Mile is the takeoff point for many short and long haul buses to Malaysia.
Golden Mile has a couple of money changers who carry limited amount of MMK. Although their exchange rate is not usually great. As of 4th January 2017, their best offer was S$1 to 750Kyat.
|Global Exchange on the 2nd level of Peninsula Plaza offered the best rate of S$1 to 860Kyat. 4th January 2017|
Upon asking at Peninsula Plaza, the rate was significantly higher, they offered S$1 to 840Kyat, with Global Exchange on the second floor offering the best rate of S$1 to 860Kyat.
I think it is competitive and important to exchange Kyats before heading to Myanmar knowing the currency exchange situation there. They do not accept many notes nor currencies, especially soiled, crumpled or folded notes. Peninsula Plaza's changers also have more MMK to change if you are changing bigger amounts.
** UPDATE: Kyat is not a valued currency so exchanging it in Singapore gives you a rather unfavourable rate. I saw some good rates in Yangon's Chinatown.