Burmese Kyat Currency | Myanmar Burma Kyat
Burmese Kyat Currency:
Burmese Kyat is the official legal tender currency of Burma. It is denoted by the symbol K. Since this is a decimalized currency each Kyat is subdivided into one hundred equal parts known as pyas. The currency is issued by the central bank of the country called the Central Bank of Myanmar. The code of the Burmese Kyat is MMK.
The frequently used banknotes in Myanmar are K5, K10, K20, K50, K100, K200, K500, K1000, K5000 and K10,000. The coins which are in active circulation are
K5, K10, K50 and K100. The rarely used currency notes are 50 pyas and K1 and the coin which is seldom in circulation is K1.
Myanmar is geographically located in south east region of Asia and the previous name of the country Burma was changed to Myanmar by the military regime in 1989. The Burmese Kyat was earlier introduced to take the place of Indian rupee in 1943 but Indian rupee came back into circulation quickly to stay for usage up to the year 1952. In the ensuing years, the cost of living escalated persistently forcing the gradual phase-out of coins with denomination of K1.
The existence of black market compelled the government to demonetize its money many times. The cost of living in Myanmar is so high that the local cuisine costs between K500 to K5000, as of 2017.
Burmese Kyat (Myanmar (Burma)):
1⁄100 = pya
50 pyas, K1, K5, K10, K20, K50, K100, K200, K500, K1000, K5000, K10,000.
K1, K5, K10, K50, K100.
Central Bank of Myanmar