RM 10 approximately = 100 BAHT
As ppl recommended, travellers should try to stay near with night bazaar. WHY?
Check it out at chiangmai activities
Hotel nearby Night Bazaar :
(1) suriwongsehotels THB 1,050 (RECOMMENDED)
http://www.sawadee.com/hotel/chiangmai/suriwongse/#reviewdetails
(2) royal lanna THB 1,050
http://www.sawadee.com/hotel/chiangmai/royallanna/
(3) Portico 21 Hotel THB 1,150 (10min walking to NIGHT BAZAAR)
http://www.sawadee.com/hotel/chiangmai/portico21/#reviewdetails
(4) Centara Hotels THB 1,020 (RECOMMENDED)
http://www.centarahotelsresorts.com/cdc/map.asp
(5) CH Hotel THB 850
http://www.sawadee.com/hotel/chiangmai/chmholiday/#reviewdetails
Far abit from BAZAAR:
(1) YMCA (very very cheap, juz abit too far)
http://www.ymcachiangmai.org/h-reservation.htm