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Kyat

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Kyat
The currency of Burma (or Myanmar). It was introduced in 1953, replacing the Burmese rupee. The Burmese government has been known to follow unusual policies with regard to printing money. For example, it introduced 45 and 90 kyat banknotes in 1987 because they both incorporated a leading general's favorite number (nine). Also in 1987, the government demonetized the 25, 35 and 75 kyat banknotes without warning. This led to a general uprising because those notes composed three-fourths of the currency in circulation.


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The FECs can be converted into the local kyat currency, but they are being changed at a rate of about 900 kyats to one, or 23 percent less than the current exchange rate of 1,170 kyats for one dollar.
Myanmar, formerly known as Burma, requires foreign aid money to be converted first into foreign exchange certificates at a fixed price and then into the country's national currency, the kyat.
Even then, I had no trouble flagging a cabbie on the street, who charged me 1,500 Burmese kyat ($1.
 
 
 
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