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.
References in periodicals archive ?
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.
Severe shortage of foreign exchange, inflation, printing of money, undermining of price liberalization, devaluation of the kyat, lack of credit, and decreased foreign investments encompass many of the deleterious consequences of Burma's multiple exchange rates.
People who refuse to work or cannot work are expected to pay fines from 200 kyat to 3,500 kyat.
The suspects, aged 30 and 32, were reportedly using 1 kyat coins, which are similar in size and weight to 500 yen coins.
Under the new arrangement, lowest-ranking officials will get an overall monthly remuneration of 3,000 kyat while top officials will get 15,000 kyat.
dollar) or kyat (pronounced chat), the local currency.
Khun Sa [has] paid 500,000 kyat [$5,000] a month since 1992 to one general who was commanding this region," one officer of his army in Shan State told Reuters.
The Kyat is the national currency of which country?
US$21 million in Kyat equivalent to provide senior loans of up to US$3-6 million in Kyat equivalent to each selected MFI.
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 exchange rate of the kyat to the US dollar, which was set in April 2012 at a small band around 818 kyat, on November 7, 2014, for the first time crossed the 1,000-kyat mark and has since been expanding significantly further to 1,038 kyat as of yesterday.