About the Myanmar Kyat
The Kyat was introduced in 1952, replacing the Burmese rupee at par. It has undergone significant revaluations and monetary instability due to political and economic shifts.
The name 'Kyat' is an old Burmese unit of weight, similar to the Indian Tola.
Interesting Facts
Unusual Denominations
Due to previous demonetisations and monetary policies, Myanmar has had banknotes in unusual denominations, such as 45 and 90 Kyat notes, reflecting numerological beliefs.
A Currency in Flux
The Kyat has faced significant instability due to a history of political unrest, military coups, and economic sanctions, leading to fluctuating values and a thriving black market.
White Elephant Symbolism
The white elephant, a sacred symbol in Southeast Asian culture, often appears on coins and banknotes, representing royal power and prosperity.
Historical Timeline
Burma gains independence from Britain.
The Kyat is introduced.
A military coup leads to a socialist economic system.
A sudden demonetisation invalidates several large denominations, wiping out savings.
A military coup causes further economic instability and devaluation of the Kyat.
Denominations
Banknotes
Security Features
Quick Facts
- ISO Code
- MMK
- Symbol
- K
- Numeric Code
- 104
- Subunit
- Pya (1/100)
- Introduced
- 1952-07-01
Central Bank
- Name
- Central Bank of Myanmar
- Headquarters
- Naypyidaw, Myanmar
- Founded
- 1947
- Current Governor
- Than Nyein (since 2021)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 23.6%
- Interest Rate
- 7.00%
Exchange Rates
What Affects the MMK Exchange Rate?
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