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Kyat

Burmese kyat
Kyat.png  (Burmese)
1 Kyat.jpg 1000 Kyat .jpg
1 kyat (1990) 1,000 kyats (2004)
ISO 4217
Code MMK
Denominations
Subunit
1100 pya
Symbol K
Banknotes

K5, K10, K20, K50, K100, K200, K500, K1000, K5000, K10,000.

Rare. 50 pyas, K1.
Coins

K5, K10, K50, K100.

Rare. K1
Demographics
User(s)  Myanmar
Issuance
Central bank Central Bank of Myanmar
 Website www.cbm.gov.mm
Valuation
Inflation 3.1%
 Source The World Factbook, 2012 est.

K5, K10, K20, K50, K100, K200, K500, K1000, K5000, K10,000.

K5, K10, K50, K100.

The kyat (/kiˈɑːt/, US /ˈɑːt/ or /ˈkjɑːt/;Burmese: ကျပ် [tɕaʔ]; ISO 4217 code MMK) is the currency of Burma (Myanmar). It is often abbreviated as "K" (singular or plural) or "Ks" (plural), which is placed before or after the numerical value, depending on author preference.

From 2001-2012, the official exchange rate varied between 5.75 and 6.70 kyats per US dollar (8.20 to 7.00 kyats per euro). However, the street rate (black market rate), which more accurately took into account the standing of the national economy, has varied from 750 kyats to 1335 kyats per USD (985 to 1475 kyats per EUR). The black market exchange rates (USD to MMK) decrease during the peak of the tourist season in Burma (December to January).

On 2 April 2012, the Central Bank of Myanmar announced that the value of the kyat against the US dollar would float, setting an initial rate of K 818 per US dollar.

On 20 March 2013, the Finance Ministry announced that it would abolish Foreign Exchange Certificates (FEC), which were mandatory for tourists to buy at least US$200 worth of until 2003, a measure used to stop visitors from exchanging on the black market.


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Wikipedia

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