Currency Rates for Burmese Kyat or Myanmar Kyat
Bank Exchange Rates for Myanmar (Burma) - MMK - Burmese Kyat or Myanmar Kyat - K.
GBP to MMK
The kyat is the monetary unit of Myanmar, a country still often referred to as Burma and currency is known as Burmese Kyat and Myanmar Kyat
History about the currency
The kyat appeared in 1852 under the reign of the second last king of Burma, Mindon Min , who created the Royal Institute of Mint in Mandalay . Only silver and gold coins were first struck. The corners were made in Paris. Later coins of lower value were struck in copper, bronze, lead, tin and iron. There were no tickets. In 1881, the English invasion of the country imposed the Indian rupee as currency.
The Japanese occupation replaced the rupee with a new kyat. Only tickets were issued and the kyat was divided into 100 cents.
1946 to the present day
After a transitional period, the newly independent country decided to new issues of kyat and pyas by order of the 1 st July 1952. Different sets of notes and coins succeeded in 1966, 1987, 1991 and 1999.
The kyat is divided into 100 pyas, but no coin has been circulating since the last devaluations. Kyat is a special currency for various reasons.
It is not convertible outside the country and its course is forced.
There are currently circulating banknotes of 5, 10, 20, 50, 100, 200, 500, 1000 and 5000 kyats. The country was until recently not famous for its
cuts to particular values ‹such as 15, 25, 35, 45, 75, 90 kyats, but these have been removed from circulation in several stages since the 1970s. These
unusual values were due to superstitions on numbers.
Tickets are frequently renewed to combat hoarding and the black market and to impose a regular authoritative exchange of liquidity at prices
advantageous for the power.
Still to control monetary flows, tourists entering the country have long been forced to change US $ 200 against Foreign Exchange
Certificates (FEC) at a government rate because the black market on kyat is important. This obligation has recently
been abolished. The official foreign exchange rate in January 2005 is about 8.75 kyats per 1 euro, while the real price on the
semi-official black market in the street is 1100 kyats for 1 euro, but be careful not to see one Offer demonetized tickets.
The foreign exchange rates for Myanmar (Burma) also known as the ISO code MMK or the Burmese Kyat or Myanmar Kyat currency and as a symbol K.
Send Money Transfer to Myanmar (Burma). Coins in circulation are available in denominations of K1, K5, K10, K50, and K100, whilst banknotes in circulation are available in denominations of 50 pyas, K1, K5, K10, K20, K50, K100, K200, K500, K1000, K5000 and K10,000.
The Kyat replaced the rupee at a 1:1 ratio in 1952. This was the third incarnation of the kyat, with the fist being introduced in 1852, until being replaced by the Indian rupee in 1889, and the second being introduced in 1943, and replaced in 1945 by the Burmese rupee.
Bank Exchange Rates for Burmese Kyat or Myanmar Kyat . The foreign exchange rates for Myanmar also known as the ISO code MMK. Send money transfer online with us with the cheapest options.