The currency of Myanmar (Burma) is kyat. It is denoted by “K” and its ISO 4217 code is MMK. The Government of Myanmar has banned the transfer of currency but because of increasing inflation now they are changing their policies and decided to let their currency float so that it would be easy to invite the foreign investors in the country.

The currency of Myanmar has gone through many changes in history. When British started ruling in Myanmar the currency was kyat and has denomination of silver and gold coins as 1 pe, 1 mu (2pe), 5 mu (10 pe) and 1 kyat. While there were no banknotes issued till their rule.

After getting independence in 1948, the Bank of Burma formed a Board of Currency. This board then issued a new series of coins and banknotes. The coins introduced were in denomination of 1, 5, 10, 25 and 50 pyas and 1 kyat. The new coins featured the picture of Chinthe (lion). Later on, coins for 10, 50 and 100 kyats were also issued.

The current series of Myanmar banknotes includes 50 pyas, 1, 5, 10, 20, 50 100, 200, 500, 1000, 5000 and 10,000 kyat. Most of the banknotes features the picture of Chinthe.

Myanmar Currency Kyat

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April 7, 2011 | Afifa Gillani | No Comments | 205 views