Kyat


Also found in: Dictionary, Thesaurus, Acronyms, Wikipedia.
Related to Kyat: kayak

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.
References in periodicals archive ?
The charge for carrying Thai products loaded in the truck when travelling from the border to the town in which Ong lives is between 50 and 400 baht within the Wa's zone of control and between 1,000 and 20,000 kyat at posts run by the Burmese army, the police or pyithu sit.
For my part, I need to pay 30,000 to 50,000 kyat to the authorities in order to get the goods passed through the checkpoints.
From 1997 to 1999, there were 14 reported cases of people fraudulently using kyat coins in Japan, according to the National Police Agency.
While the dollar buys about 6 kyat at the official exchange rate, the black market rate is about 300 kyat.
Paid up capital for incorporation of a company must be a minimum of 300,000 kyats for a service company and 1,000,000 kyats for a manufacturing company.
In Malaysia, the threshold is 5,000 ringgits or P60,000; for Cambodia, 150,000 riels or P82,188; Laos, 12 million kips or P74,400; Myanmar, 2 million kyat or P76,000,' Rodriguez noted.
The kyat had been declining steadily against the dollar since the beginning of the year.
In Myanmar, several hundred people have abandoned their journey and returned to Rakhine state after paying smugglers 200,000-300,000 kyat ($182-$273) for re-entry, UNHCR said on Tuesday, calling for them not to be punished for irregular departure.
The banks can only lend to foreign investors in foreign currencies and not the local kyat, unless they partner a local bank.
The official pegging of the Myanmar kyat, the legal tender of Myanmar, to the special drawing right (SDR) of the International Monetary Fund (IMF) was abolished in April 2012.
Foreign banks will also be limited to lending only in foreign currencies rather than in kyat, Myanmar's official currency, and will be restricted from lending to Myanmar-registered companies directly.
The Government Gazette released by the previous military junta says that the health sector gets 99.5 billion kyat ($110 million), or 1.3 percent of this budget year 2011-12.