Kyat

ကျပ်ငွေ (formal) ကျပ် (informal)
Ks. 1,000/- (2004) Ks. 1,000/- (2020)
ISO 4217
Code	MMK (numeric: 104)
Subunit	0.01
Unit
Symbol	K‎ (singular) Ks. (plural)
Denominations
Subunit
1⁄100	pya
Banknotes
Freq. used	Ks. 50/-, Ks. 100/-, Ks. 200/-, Ks. 500/-, Ks. 1,000/-, Ks. 5,000/-, Ks. 10,000/-
Rarely used	Ks. 50/-, K 1/-, Ks. 5/-, Ks. 10/-, Ks. 20/-, Ks.  20,000/-
Coins
Rarely used	K 1/-, Ks. 5/-, Ks. 10/-, Ks. 50/-, Ks. 100/-.
Demographics
User(s)	Myanmar
Issuance
Central bank	Central Bank of Myanmar
Website	www.cbm.gov.mm
Valuation
Inflation	23%
Source	The World Factbook, 2023 est.

The kyat (US: /ˈtʃɑːt/ or /ˈkjɑːt/;^[1] Burmese: ကျပ် [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), equal to 16.3 (16.329324593) grams of silver.^[2][3]

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.^[4] At its peak, the kyat traded for as high as Ks. 850/- per USD.^[5]

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.^[6]

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.^[7]

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 as of August 2022^[update].^[8]

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 1⁄8 and 1⁄4 pya, with copper, brass, tin and iron 1⁄4 pe (1 pya) and copper 2 pya. Further gold coins were issued in 1866 for 1 pe, 2+1⁄2 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 [9]
Image		Value	Technical parameters			Description			Date of issue
Obverse	Reverse		Diameter	Mass	Composition	Edge	Obverse	Reverse
		1 pya	18 mm	2.2 g	Bronze 90% copper 10% zinc	Plain	Chinthe	Value (digit),Value (writing), year of minting, Myanmar flower designs	1956
		5 pyas	19.5 mm	3.17 g	Copper-nickel	Plain	Chinthe	Value (digit),Value (writing), year of minting, Myanmar flower designs	1956
		10 pyas	19.5 mm	4.46 g	Copper-nickel	Plain		Value (digit),Value (writing), year of minting, Myanmar flower designs	1956
		25 pyas	24.1 mm	6.78 g	Copper-nickel	Plain		Value (digit),Value (writing), year of minting, Myanmar flower designs	1956
		50 pyas	26 mm	7.8 g	Copper-nickel	Security edge		Value (digit),Value (writing), year of minting, Myanmar flower designs	1956
		1 kyat	30.5 mm	11.65 g	Copper-nickel	Security edge		Value (digit),Value (writing), year of minting, Myanmar flower designs	1956
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

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.

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 mm	Blue	Peacock and "1 kyat" inscribed in Burmese script with rising sun in background	Mandalay Royal Palace	"Bamar" written in the Burmese language embedded in guilloché pattern	1944
		Ks. 5/-	130 × 72 mm	Red	Peacock and "5 kyats" written in Burmese with rising sun in background
		Ks. 10/-	146 × 84 mm	Green	Peacock and "10 kyats" written in Burmese with rising sun in background
		Ks. 100/-	160 × 90 mm	Bright Orange	Peacock and "100 kyats" written in Burmese with rising sun in background
		Ks. 100/-	155 × 95 mm	Dark blue	Peacock and "100 kyats" written over Burmese "100" numerals with image of Head of State Ba Maw on right	Mandalay Royal Palace in center bordered by Burmese nāgas with "100" in Burmese numerals on left and right	Head of State Ba Maw's image	1945
For table standards, see the banknote specification table.

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.^[16]

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 mm	Purple and grey	General Aung San (1915–1947)	Inle Lake fisherman	Series of semi-circles	30 April 1965
		Ks. 5/-	150 × 70 mm	Green		Farmer and cow	Pattern throughout paper	1965
		Ks. 10/-	159 × 81 mm	Red		Woman picking cotton
		Ks. 20/-	169 × 90 mm	Brown		Cultivating 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 the 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 the 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	General Aung San	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		Pyinsarupa	3 November 1985	5 September 1987
		Ks. 35/-	155 × 74 mm	Violet		Standing Nat Thar	1 August 1986	5 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	General Aung San	Law Ka Nat	July 1979	3 November 1985 Zdroj:https://en.wikipedia.org?pojem=Kyat Text je dostupný za podmienok Creative Commons Attribution/Share-Alike License 3.0 Unported; prípadne za ďalších podmienok. Podrobnejšie informácie nájdete na stránke Podmienky použitia.  Navigácia: Veda > Analytika Antropológia Aplikované vedy Bibliometria Dejiny vedy Encyklopédie Filozofia vedy Forenzné vedy Humanitné vedy Knižničná veda Kryogenika Kryptológia Kulturológia Literárna veda Medzidisciplinárne oblasti Metódy kvantitatívnej analýzy Metavedy Metodika Metodológia vedy Náboženstvo a veda Náučná literatúra Podvody vo vede Popularizácia vedy Potravinárstvo Prírodné vedy Pseudoveda Scientometria Spoločenské vedy Teórie Teatrológia Technické vedy Technika Terminológia Umenie Výskum Veda Veda a technika podľa štátu Veda a technika podľa kontinentu Veda a technika podľa roka Veda v kozme Vedci Vedecká literatúra Vedecké databázy Vedecké experimenty Vedecké konferencie Vedecké metódy Vedecké ocenenia Vedecké organizácie Vedecké parky Vedeckí spisovatelia Vzdelávanie Záhady Príbuzné výrazy: Text je dostupný za podmienok Creative Commons Attribution/Share-Alike License 3.0 Unported; prípadne za ďalších podmienok. Podrobnejšie informácie nájdete na stránke Podmienky použitia. www.astronomia.sk | www.biologia.sk | www.botanika.sk | www.dejiny.sk | www.economy.sk | www.elektrotechnika.sk | www.estetika.sk | www.farmakologia.sk | www.filozofia.sk | Fyzika | www.futurologia.sk | www.genetika.sk | www.chemia.sk | www.lingvistika.sk | www.politologia.sk | www.psychologia.sk | www.sexuologia.sk | www.sociologia.sk | www.veda.sk I www.zoologia.sk