Burmese kyat
Worldwide use:
- Burma
Description:
The Burmese Kyat is the official currency of Burma but US Dollars are widely accepted if in a pristine condition. One Burmese Kyat is made up of 100 Pyas. Burmese coins come in 1, 5, 10, 50 and 100 Kyats. Banknotes are issued in 50 Pyas as well as 1, 5, 10, 20, 50, 100, 200, 500, 1000, 5000 and 10000 Burmese Kyats.
Burma mostly relies on cash for its trading. The first 10000 Kyat banknote was issued in 2012 to facilitate large transactions.
Origin:
There have been three versions of the Burmese Kyat over the years. The first edition was issued in 1852. This was made up of silver and gold coins with 20 pe equal to 4 Pyas. In 1886, Burma fell under British rule and the Burmese Rupee replaced the Kyat in 1889. In 1942, the Japanese took over the country and so the second Kyat was established with one Kyat being worth 100 Cents. However, this currency lost all of its value when Japan was defeated in World War II and the Burmese Rupee was circulated again. Today’s Burmese Kyat was launched in 1952.
Component units:
- pya (100)
Date introduced:
- 1852
Central bank:
- Central Bank of Myanmar
Printer:
Mint:
