Myanmar kyat explained

Kyat
Local Name:ကျပ်
Replaced Currency:Burmese rupee
Local Name Lang:my
Currency Name In Local:ကျပ်ငွေ (formal)
ကျပ် (informal)
Image 1:1000 Kyat .jpg
Image Title 1:Ks. 1,000/- (2004)
Image 2:2020MyanmarKyat.png
Image Title 2:Ks. 1,000/- (2020)
Iso Code:MMK
Using Countries: Myanmar
Inflation Rate:23%
Inflation Source Date:The World Factbook, 2023 est.
Subunit Name 1:pya
Symbol:K
Symbol Comment:(singular)
(plural)
Rarely Used Coins:K 1/-, Ks. 5/-, Ks. 10/-, Ks. 50/-, Ks. 100/-.
Frequently Used Banknotes:Ks. 50/-, Ks. 100/-, Ks. 200/-, Ks. 500/-, Ks. 1,000/-, Ks. 5,000/-, Ks. 10,000/-
Rarely Used Banknotes:Ks. -/50, K 1/-, Ks. 5/-, Ks. 10/-, Ks. 20/-, Ks.  20,000/-
Issuing Authority:Central Bank of Myanmar

The kyat (or ; Burmese: ကျပ် in Burmese pronounced as /tɕaʔ/; ISO 4217 code MMK) is the currency of Myanmar (Burma). The typical notation for the kyat is "K" (singular) and "Ks." (plural), placed before the numerals followed by "/-". Amounts less than K. 1/- are typically denoted with the number of pyas following "-/" (e.g. -/50 denotes half a kyat).

The term kyat derives from the Burmese unit kyattha (Burmese: ကျပ်သား|links=no), equal to 16.3 (16.329324593) grams of silver.[1] [2]

Current MMK exchange rates

From 2001 to 2012, the official exchange rate varied between Ks. 5/75 and Ks. 6/70 per US dollar (Ks. 8/20 to Ks. 7/- per euro). However, the street rate (black market rate), which more accurately took into account the standing of the national economy, has varied from Ks. 750/- to Ks. 1,335/- per USD (Ks. 985/- to Ks. 1,475/- per EUR). The black market exchange rates (USD to MMK) decrease during the peak of the tourist season in Burma (December to January). During the 2003 Myanmar banking crisis, the kyat's black market rate appreciated when distrust in kyat-deposited banks increased demand for kyat banknotes.[3] At its peak, the kyat traded for as high as Ks. 850/- per USD.[4]

On 2 April 2012, the Central Bank of Myanmar announced that the value of the kyat against the US dollar would float, setting an initial rate of Ks.818/- per US dollar.[5]

On 20 March 2013, the Finance Ministry announced that it would abolish Foreign Exchange Certificates (FEC), which were mandatory for tourists to buy at least US$200 worth of until 2003, a measure used to discourage visitors from exchanging on the black market.[6]

More than a year after a coup d'état caused the overthrow of a democratically elected government, capital flight from Myanmar and inflation accelerated, causing the value of the kyat to plummet to 3500 kyats per USD in the informal market .[7] By May 2024, the exchange rate had increased to 5000/- per USD on the black market, with the junta reportedly abandoning the fixed exchange rate of 2100.[8] [9]

History

First kyat, 1852–1889

The kyat was a denomination of both silver and gold coinages in Burma until 1889. It was divided into 16 pe, each of 4 pya, with the mu and mat worth 2 and 4 pe, respectively. Nominally, 16 silver kyats equal 1 gold kyat. The silver kyat was equivalent to the Indian rupee, which replaced the kyat after Burma was conquered by the British.

Second Kyat, 1943–1945

When the Japanese occupied Burma in 1942, they introduced a currency based on the rupee. This was later replaced by banknotes in all kyat denominations. This kyat was subdivided into 100 cents. The currency became worthless at the end of the war when the Burmese rupee was reintroduced in 1945.

Third kyat, 1952–present

The present kyat was introduced on 1 July 1952. It replaced the rupee at par. Decimalisation also took place, with the kyat subdivided into 100 pyas.

Coins

First kyat

During the Konbaung dynasty, Mindon Min, the second to last King of Burma, established the Royal Mint in Mandalay (Central Burma). The dies were made in Paris. Silver coins were minted in denominations of 1 pe, 1 mu (2 pe), 1 mat (4 pe), 5 mu (8 pe) and 1 kyat, with gold 1 pe and 1 mu. The obverses bore the Royal Peacock Seal, from which the coins got their name. The reverse contained the denomination and mint date (in the Burmese era, which starts from AD 638). In the 1860s and 1870s, lead coins were issued for and pya, with copper, brass, tin and iron pe (1 pya) and copper 2 pya. Further gold coins were issued in 1866 for 1 pe, mu and 1 kyat, with 5 mu issued in 1878.

Second kyat

No coins were issued for this currency.

Third kyat

In 1952, coins were introduced in denominations of 1, 5, 10, 25 and 50 pyas and K 1/-. The new coins bore the same obverse figure of the Chinthe from the Second kyat coins and the same reverse design, with the value of the coin in Burmese script and numerals surrounded by Burmese flower designs.

1956-1966 issued coins [10]
Image Value Technical parameters Description Date of issue
Obverse Reverse Diameter Mass Composition Edge Obverse Reverse
1 pya18 mm2.2 gBronze
90% copper
10% zinc
PlainChintheValue (digit),Value (writing), year of minting, Myanmar flower designs1956
5 pyas19.5 mm3.17 gCopper-nickelPlainChintheValue (digit),Value (writing), year of minting, Myanmar flower designs1956
10 pyas19.5 mm4.46 gCopper-nickelPlainValue (digit),Value (writing), year of minting, Myanmar flower designs1956
25 pyas24.1 mm6.78 gCopper-nickelPlainValue (digit),Value (writing), year of minting, Myanmar flower designs1956
50 pyas26 mm7.8 gCopper-nickelSecurity edgeValue (digit),Value (writing), year of minting, Myanmar flower designs1956
1 kyat30.5 mm11.65 gCopper-nickelSecurity edgeValue (digit),Value (writing), year of minting, Myanmar flower designs1956

In 1966, all coins were redesigned to feature Aung San on the obverse and were all changed in composition to aluminium. Furthermore, the coins were slightly reduced in size. However, they retained the same shapes and overall appearance of the previous series of coins. These were circulated until being discontinued in 1983.

In 1983, a new series of coins was issued in bronze or brass 5, 10, 25, 50 pyas and cupro-nickel 1 kyat. Although the 25 pyas were initially round, it was later redesigned as hexagonal due to size and appearance confusions with the 10 and 50 pyas. These would be the last official series of coins to be issued under the name of "Burma."

1 pya coins were last minted in 1966, with the 5 and 25 pyas last minted in 1987 and the 10 and 50 pyas in 1991.

In 1999, a new series of coins was issued in denominations of bronze K 1/-, brass Ks. 5/- and Ks. 10/-, and cupro-nickel Ks. 50/- and Ks. 100/- under the name "Central Bank of Myanmar." These are also the first coins of Burma to depict Latin letters. These coins were intended for vendors and services as an alternative to large amounts of worn out, low denomination banknotes. High inflation has since pushed these coins out of circulation.

In late 2008, the Myanmar government announced that new Ks. 50/- and Ks. 100/- coins would be issued. According to newspaper articles, the new Ks. 50/- coin would be made of copper, with the usual Burmese lion on the obverse and the Lotus Fountain from Naypyidaw on the reverse. The Ks.100/- coin would be of cupro-nickel and depict the Burmese lion on the obverse and the value on the reverse.

1991 Series
Image Value Technical parameters Description Date of first minting
Diameter Weight Composition Edge Obverse Reverse
[11] 10 pyas 20.4 mm Value in Burmese numerals 1991
50 pyas 24.6 mm Value in Burmese numerals 1991
1999 Series
[12] K 1/- 19.03 2.95 Plain 1999
[13] Ks. 5/- 20 mm 2.73 g Plain 1999
[14] Ks. 10/- 22.3 mm 4.45 g
[15] Ks. 50/- 23.85 mm 5.06 g Reeded 1999
[16] Ks. 100/- 26.8 mm 7.52 g

Banknotes

First kyat

No banknotes were issued for this currency.

Second kyat

The Burma State Bank issued notes for K 1/-, Ks. 5/-, Ks. 10/- and Ks. 100/- in 1944, followed by a further issue of Ks. 100/- notes in 1945.

1944–45 Series
Image Value Dimensions Main Color Description Date of issue Remark
Obverse Reverse Obverse Reverse Watermark
K 1/-109 × 63 mmBluePeacock and "1 kyat" inscribed in Burmese script with rising sun in backgroundMandalay Royal Palace"Bamar" written in the Burmese language embedded in guilloché pattern1944
Ks. 5/-130 × 72 mmRedPeacock and "5 kyats" written in Burmese with rising sun in background
Ks. 10/-146 × 84 mmGreenPeacock and "10 kyats" written in Burmese with rising sun in background
Ks. 100/-160 × 90 mmBright OrangePeacock and "100 kyats" written in Burmese with rising sun in background
Ks. 100/-155 × 95 mmDark bluePeacock and "100 kyats" written over Burmese "100" numerals with image of Head of State Ba Maw on rightMandalay Royal Palace in center bordered by Burmese nāgas with "100" in Burmese numerals on left and rightHead of State Ba Maw's image1945

Third kyat

In 1952, the Union Bank of Burma formed a currency board which took over control of the issuing of currency and a more important change to the currency was the introduction of the decimal system in which 1 kyat was decimalised into 100 pyas.[17]

On 12 February 1958, the Union Bank of Burma introduced the first kyat notes, in denominations of K 1/-, Ks. 5/-, Ks. 10/- and Ks. 100/-. These were very similar in design to the last series of rupee notes, issued earlier. Later on, 21 August 1958, Ks. 20/- and Ks. 50/- notes were introduced. The Ks. 50/- and Ks. 100/- notes were demonetised on 15 May 1964. This was the first of several demonetisations, ostensibly carried out with the aim of fighting black marketeering.

Ever since the Third Kyat was introduced, the Burmese currency has no indication of the date in which the note came into circulation nor the signature of the issuing authority.

1965–1971

The People's Bank of Burma took over note production in 1965 with an issue of K 1/-, Ks. 5/-, Ks. 10/- and Ks. 20/- notes.

1965 Series
Image Value Dimensions Main Color Description Date of issue
Obverse Reverse Obverse Reverse Watermark
K 1/-115 × 66 mmPurple and greyGeneral Aung San (1915–1947)Inle Lake fishermanSeries of semi-circles30 April 1965
Ks. 5/-150 × 70 mmGreenFarmer and cowPattern throughout paper1965
Ks. 10/-159 × 81 mmRedWoman picking cotton
Ks. 20/-169 × 90 mmBrownCultivating tractor

1972–1988

In 1972, the Union of Burma Bank took over note issuance, with notes introduced between 1972 and 1979 for K 1/-, Ks. 5/-, Ks. 10/-, Ks. 25/-, Ks. 50/- and Ks. 100/-. The notes were printed by the Security Printing Works in Wazi, Upper Burma (established c. 1972) under the technical direction of German printing firm Giesecke & Devrient.

On 3 November 1985, the Ks. 50/-, and Ks. 100/- notes were demonetized without warning, though the public was allowed to exchange limited amounts of these old notes for new ones. All other denominations then in circulation remained legal tender. On 10 November 1985, Ks. 75/- notes were introduced, the odd denomination possibly chosen because of dictator general Ne Win's predilection for numerology; the Ks. 75/- note was supposedly introduced to commemorate his 75th birthday. It was followed by the introduction of Ks. 15/- and Ks. 35/- notes on 1 August 1986.

Only two years later, on 5 September 1987, the government demonetised the Ks. 25/-, Ks. 35/-, and Ks. 75/- notes without warning or compensation, rendering some 75% of the country's currency worthless and eliminating the savings of millions of Burmese people. On 22 September 1987, banknotes for Ks. 45/- and Ks. 90/- were introduced, both of which incorporated Ne Win's favourite number, nine. The resulting economic disturbances led to serious riots and eventually a coup d'état in 1988 by General Saw Maung.

1972-1987 Series
Image Value Dimensions Main Color Description Date of
Obverse Reverse Obverse Reverse issue issue suspension
K 1/- 124 × 60 mm Green Weaving Loom 31 October 1972 Fall into disuse, wear and tear
Ks. 5/- 136 × 70 mm Blue Palm Tree 31 October 1973 Fall into disuse, wear and tear
Ks. 10/- 146 × 80 mm Reddish Brown Ceremonial Offering Bowl 30 June 1973 Fall into disuse, wear and tear
Ks. 15/- 149 × 71 mm Light green Zawgyi wood carving 1 August 1986 Fall into disuse, wear and tear
Ks. 25/- 155 × 90 mm Orange 3 November 1985 5 September 1987
Ks. 35/-155 × 74 mmVioletStanding Nat Thar1 August 19865 September 1987
Ks. 45/- 158 × 77,5 mm Blue-green Thakin Po Hla Gyi (1909–1943) Oil field workers and oil drills 22 September 1987 Fall into disuse, wear and tear
Ks. 50/- 166 × 100 mm Yellow-Brown Law Ka Nat July 1979 3 November 1985
Ks. 75/- 161 × 77 mm Brown 10 November 1985 5 September 1987
Ks. 90/- 167 × 80 mm Light green Saya San (1876–1931)Farmers and bullock cart 22 September 1987 Fall into disuse, wear and tear
Ks. 100/- 176 × 110 mm Light green SaungSaung gauk 1 August 1976 3 November 1985
Banknotes of K -/50, K 1/- and Ks. 5/- are rare. Most daily transactions are rounded up to the nearest Ks.10/-.

1989–present

Following the change of the country's name to Myanmar on 20 June 1989, new notes were issued, returning to more practical denominations. Old notes were not demonetised, but simply allowed to fall into disuse through inflation as well as wear and tear. On 1 March 1990, K 1/- notes were issued, followed by Ks.200/- notes on 27 March 1990. On 27 March 1994, notes for K -/50 (50 pyas), Ks. 20/-, Ks. 50/-, Ks. 100/-, and Ks. 500/- were issued, followed on 1 May 1995, by new Ks. 5/- and Ks. 10/- notes. Ks. 1,000/- notes were introduced in November 1998.

In 2003, as public trust eroded during the 2003 Myanmar banking crisis,[18] Some welcomed a higher value note that reduced the number of banknotes needed for transaction. Other responses suggested widespread fear that the banknote would simply fuel the inflation. This fear may have been supported by a jump in the black market exchange rates following the public announcement of the banknote.[20] [21]

On 9 June 2012, the Central Bank announced that Ks. 10,000/- notes would be introduced into circulation to better facilitate financial transactions in a largely cash-oriented economy. They were issued on 15 June 2012.[22] [23]

On 1 October 2014, the Central Bank introduced new Ks. 5,000/- banknotes with additional security features to prevent counterfeiting. The revised notes are varnished and have enhanced printing, watermarks, and security thread. The new notes remained the same size, colour and design as the 2009 issue, which continues to be used. The new notes followed recent incidents of counterfeit Ks. 5,000/- and Ks. 10,000/- banknotes, including a 12 September 2014 seizure of Ks. 10,000/- notes and a printer allegedly used to make them.[24]

In 2019, the Central Bank of Myanmar issued a new series of banknotes that feature a portrait of its national hero Aung San after longstanding calls to redesign the kyat. The first denomination issued for this new series was the Ks. 1,000/- banknote, which was issued into circulation on 4 January 2020,[25] followed by the Ks. 500/- banknote on 19 July 2020.[26]

In July 2023, a new Ks. 20,000/- banknote was announced amidst economic instability from the aftermath of the 2021 Myanmar coup d'état. The reasoning was not explained, but was likely to commemorate the birth of a white elephant and the construction of the Maravijaya Buddha statue in Naypyidaw. The banknote saw limited circulation at only select central bank branches.[27]

Current Series
Image Value Dimensions Main Color Description Date of issue Remark
Obverse Reverse Obverse Reverse Watermark
K -/50110 × 55 mmObverse: Purple and orange
Reverse: Multicolor
Saung gaukGuilloché pattern"BCM"27 March 1994
K 1/-OrangeBogyoke Aung SanGuilloché patternBogyoke Aung San1 March 1990
K 1/-Blue-purpleChintheBoat-rowing at Kandawgyi Lake, Yangon"BCM"31 October 1996
Ks. 5/-130 × 60 mmBrown and blueChinlone cane ball gameChinthe1 May 1995
Chinthe bust over value1997
Ks. 10/-PurpleA karaweik (royal regalia boat)Chinthe1 May 1995
Chinthe bust over value1997
Ks. 20/-145 × 70 mmGreenPeople's Park and Elephant Fountain, YangonChinthe bust over value27 March 1994
Ks. 50/-Orange-brownLacquerware artisanChinthe27 March 1994
Chinthe bust over value1997
Ks. 100/-Blue, green, and pinkTemple renovationChinthe27 March 1994
Chinthe bust over value
[28] [29] Ks. 200/-165 × 80 mmDark greenElephant teak-loggerChinthe27 March 1990; 1998Value below watermark
Chinthe bust over value
150 × 70 mmChinthe bust over value11 December 2004Value above watermark
[30] [31] Ks. 500/-165 × 80 mmPurple and brownA General Mahabandoola statue being paintedChinthe27 March 1994Value above watermark
Chinthe bust over value
150 × 70 mmChinthe bust over value10 October 2004Value below watermark
Ks. 500/-150 × 70 mmRed and pinkHeadquarters of the Central Bank of Myanmar in Naypyidaw19 July 2020Value below watermark
Ks. 1,000/-165 × 80 mmGreen and purpleMinistry of Finance and RevenueChintheNovember 1998Value above watermark
Chinthe bust over value
150 × 70 mmChinthe bust over value11 October 2004Value below watermark
Ks. 1,000/-150 × 70 mmBlueAung SanPyidaungsu Hluttaw (Assembly of the Union) legislature buildings in Zeya Theddhi Ward of NaypyidawAung San bust over value4 January 2020[32] Value above watermark
Ks. 5,000/-150 × 70 mmOrange and pinkWhite elephantPyidaungsu Hluttaw (Assembly of the Union) legislature buildings in Zeya Theddhi Ward of NaypyidawElephant profile over value1 October 2009[33] Value above watermark
Ks. 10,000/- [34] 150 × 70 mmBlue, red, purple, green, brown and yellowModified State Seal of Myanmar (Features a lotus and a pair of elephant, instead of a star, a pair of Chinthe lion and the Armiger as in the Original State Seal)Mandalay Royal Palace MoatLotus Flower profile over value15 June 2012Value above watermark
Ks. 20,000/- 150 × 70 mmGreen and yellowWhite elephantBridges over the Irrawaddy river at Mandalay
(back: Ava bridge; front: Yadanbon bridge)
Elephant profile over value31 July 2023Value above watermark

Foreign exchange certificates

In 1993, Myanmar began issuing foreign exchange certificates (FEC) denominated in US dollars in denominations of $1, $5, $10, and $20. These were exchanged on a parity ratio with and were valued separately from the regular kyat. Conversion of foreign currency into kyats was made illegal as exchange rates were set artificially high. During much of this period, two valuations of the Myanmar kyat emerged; The official rate which averaged around Ks. 6/- = US$1, and the black market rate which averaged tens of times higher. Foreign visitors to Myanmar could only transact currency in FEC's or could only obtain kyats at the artificially high official rates. Illegal peddlers often had to be sought out to exchange currency.

On 1 April 2012, the Government of Myanmar began allowing for a managed float of the kyat and legalised the use and exchange of foreign currencies in Myanmar to better reflect the global exchange rates, attract investment, and to weaken the black markets. On 20 March 2013, the government announced the discontinuation and gradual withdrawal of FEC's.

Redesign proposal

Following the removal of General Aung San's portraits from the banknotes of the Burmese kyat in 1987, there have been calls by both the public and opposition politicians to reinstate them, as well as criticizing the use of animals on banknotes in circulation. Writer Nyi Maung notes that foreign countries use portraits of their national leaders and heroes on their banknotes, such as Thailand, and encourages the reinstatement of General Aung San's portrait on the kyat to remember his legacy. In October 2017, a proposal was submitted by National League for Democracy MP Aung Khin Win to debate the issue in the Pyithu Hluttaw.[35]

While the Central Bank of Myanmar argues that the cost of reprinting new notes bearing the General's portrait would be monumental considering Myanmar's current economic situation, Aung Khin Win stated that new notes would only be reprinted to replace damaged notes or in the release of new denominations or size of kyat banknotes.[35]

The debate on this issue took place in the Pyithu Hluttaw on 17 November 2017. The proposal was wholly rejected by the military bloc, but it was passed with 286 votes for, and 109 against.[36]

2020 redesign

On 21 December 2019, the Central Bank of Myanmar announced that in conjunction with the 72nd anniversary of Myanmar's independence, it would begin circulating Ks. 1,000/- notes bearing the portrait of General Aung San.[25] The bank notes were released to the public on 4 January 2020, marking the return of the national icon's image to the country's currency for the first time in thirty years.[37]

On 18 June 2020, the Central Bank of Myanmar announced that it would begin circulating Ks. 500/- notes bearing the portrait of General Aung San on 19 July 2020, in conjunction with the 73rd anniversary of Martyr's Day.[26]

Both the Ks. 500/- and Ks. 1,000/- banknotes bearing Aung San's portrait, are in concurrent circulation with the existing chinthe portrait bank notes, which will continue to remain in legal tender.

External links

Notes and References

  1. Web site: Hobson-Jobson: A Glossary of Colloquial Anglo-Indian Words and Phrases, and of Kindred Terms, Etymological, Historical, Geographical and Discursive. Sir Henry. Yule. Arthur Coke. Burnell. 30 July 1968. Munshiram Manoharlal. Google Books. 2 October 2020. 4 January 2024. https://web.archive.org/web/20240104070054/https://books.google.com/books?id=v8RRAQAAIAAJ&q=kyat+etymology. live.
  2. Book: The Coins and Banknotes of Burma. Michael. Robinson. Lewis A.. Shaw. 30 July 1980. M. Robinson and L.A. Shaw. 9780950705309. Google Books. 2 October 2020. 4 January 2024. https://web.archive.org/web/20240104070135/https://books.google.com/books?id=21pmAAAAMAAJ&q=kyat+silver. live.
  3. Turnell . Sean . Myanmar's Banking Crises . ASEAN Economic Bulletin . 20 . 3 . December 2003 . 272–282 . ISEAS . 10.1355/AE20-3F . 25773787 . 29 February 2024 . 3 April 2023 . https://web.archive.org/web/20230403154003/https://www.jstor.org/stable/25773787 . live .
  4. News: The Irrawaddy . Burma's Private Banking Crisis – a Chronology . December 2003 . 29 February 2024 . 5 July 2015 . https://web.archive.org/web/20150705141100/http://www2.irrawaddy.org/article.php?art_id=7687&page=1 . live .
  5. News: Burma sets currency exchange rate as it floats the kyat . BBC News . 2 April 2012 . 20 June 2018 . 16 April 2018 . https://web.archive.org/web/20180416134119/http://www.bbc.co.uk/news/business-17581115 . live .
  6. Web site: Myanmar phases out dollar surrogate. Arno. Maierbrugger. Inside Investor. 20 March 2013. 20 March 2013. 30 August 2023. https://web.archive.org/web/20230830040257/http://investvine.com/myanmar-phases-out-dollar-surrogate/. dead.
  7. Web site: WFP Myanmar Situation Report (August 2022) - Myanmar ReliefWeb . 2022-10-12 . reliefweb.int . 21 September 2022 . en . 12 October 2022 . https://web.archive.org/web/20221012214104/https://reliefweb.int/report/myanmar/wfp-myanmar-situation-report-august-2022 . live .
  8. Web site: Myanmar Shoppers Report Hyperinflation as Kyat Plunges Past 4,000/Dollar. The Irrawaddy. May 20, 2024.
  9. Web site: Myanmar's Currency Hits All-Time Low, Gold Surges to Fresh Peak. May 31, 2024. The Irrawaddy.
  10. Web site: Series of Bank Notes and Coins - Central Bank of Myanmar. Cbm.gov.mm. 20 June 2012. 27 February 2020. https://web.archive.org/web/20200227064132/http://www.cbm.gov.mm/?q=content%2Fseries-bank-notes-and-coins. live.
  11. Web site: Photographic image. JPG. Worldcoingallery.com. 16 January 2018. 4 February 2021. https://web.archive.org/web/20210204162529/http://worldcoingallery.com/countries/img2/127-57.jpg. live.
  12. Web site: Photographic image. JPG. Worldcoingallery.com. 16 January 2018. 3 February 2021. https://web.archive.org/web/20210203212414/http://worldcoingallery.com/countries/img2/127-60.jpg. live.
  13. Web site: Photographic image. JPG. Worldcoingallery.com. 16 January 2018. 5 February 2021. https://web.archive.org/web/20210205023646/http://worldcoingallery.com/countries/img2/127-61.jpg. live.
  14. Web site: Photographic image. JPG. Worldcoingallery.com. 16 January 2018. 3 February 2021. https://web.archive.org/web/20210203102703/http://worldcoingallery.com/countries/img2/127-62.jpg. live.
  15. Web site: Photographic image. JPG. Worldcoingallery.com. 16 January 2018. 6 April 2018. https://web.archive.org/web/20180406122534/http://worldcoingallery.com/countries/img2/127-63.jpg. live.
  16. Web site: Photographic image. JPG. Worldcoingallery.com. 16 January 2018. 5 February 2021. https://web.archive.org/web/20210205142155/http://worldcoingallery.com/countries/img2/127-64.jpg. live.
  17. Web site: History of Bank Notes - Central Bank of Myanmar. Cbm.gov.mm. 16 January 2018. 29 January 2022. https://web.archive.org/web/20220129175204/https://www.cbm.gov.mm/?q=content/history-bank-notes. live.
  18. Book: Linzmayer . Owen . The Banknote Book . Myanmar . 2012 . San Francisco, California . 30 April 2012 . 23 September 2015 . https://web.archive.org/web/20150923031410/http://www.banknotebook.com/ . live .
  19. Web site: Crossing the finance hurdle . Myanmar Now . 27 June 2015 . en . 29 February 2024 . 29 February 2024 . https://web.archive.org/web/20240229175535/https://www.frontiermyanmar.net/en/crossing-the-finance-hurdle/ . live . rumours of another pending demonetisation swept through the country, which the junta denied. The rumours did not materialize.

    In 2004, the sizes of the Ks. 200/-, Ks. 500/-, and Ks. 1,000/- notes were reduced to make all Burmese banknotes uniform in size. Larger notes were allowed to remain in circulation. K -/50, K 1/-, Ks. 5/-, Ks. 10/- and Ks. 20/- banknotes are now rarely seen, because of their low value.

    New banknotes of higher denominations

    On 1 October 2009, Ks. 5,000/- banknotes were issued measuring 150 x 70 mm, with images of a white elephant and the Pyidaungsu Hluttaw This new denomination was five times larger than the previous largest denomination.[18]

  20. Web site: New Myanmar kyat note. Myanmar2day.com. 25 September 2009. 16 January 2018. 16 January 2018. https://web.archive.org/web/20180116193426/http://myanmar2day.com/myanmar-news/2009/09/new-myanmar-kyat-note/. live.
  21. http://banknotenews.com/files/b302483bcf30f585b72b075e62197796-823.php Myanmar new 5,000-kyat note confirmed
  22. News: Get complete access to The Washington Post online - it's FREE! . The Washington Post . 7 June 2012 . 30 March 2017 .
  23. Web site: Myanmar new 10,000-kyat note confirmed. Banknotenews.com. 16 January 2018. 6 October 2012. https://web.archive.org/web/20121006210342/http://banknotenews.com/files/0cb53d71db0460b4c129de9c869f72a8-2132.php. dead.
  24. Web site: Some Interesting Facts About Paper Money. Nutmegcollector.blogspot.com. 16 January 2018. 17 January 2018. https://web.archive.org/web/20180117011810/http://nutmegcollector.blogspot.com/2014/09/myanmar-to-issue-new-design-5000-kyat.html. live.
  25. https://banknotenews.com/?p=21217 Myanmar new 1,000-kyat note (B119a) confirmed
  26. http://news.coinupdate.com/myanmar-new-500-kyat-banknote-depicting-national-hero-of-liberation-aung-san/ Myanmar: New 500-kyat banknote depicting national hero of liberation, Aung San
  27. News: Myanmar Central Bank will issue its highest denomination banknote as the economy suffers . 23 July 2023 . AP News . en . 29 February 2024 . 29 February 2024 . https://web.archive.org/web/20240229172825/https://apnews.com/article/myanmar-banknote-currency-142c29cbaff3fe6f75a55d58477a0484 . live .
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