Country ISO code: MM

Official language: Burmese

Language ISO code: my

Current official currency: Myanmar Kyat

Current currency ISO code: MMK

Complete Financial History of Myanmar

Current official currency: Myanmar Kyat (ကျပ်)

• ISO code: MMK

• Symbols: K, ကျပ်

• Singular name: Kyat

• Plural name: Kyat

• Monetary subdivision: 1 Kyat = 100 Pyas

• Fraction singular name: Pya

• Fraction plural name: Pyas

• Initial production date: 1852 (historical gold and silver kyats)

• Final production date: Still in circulation (current kyat introduced in 1952)

• Initial circulation date: 1852

• Final circulation date: Still in circulation

• Mint: Royal Mint (historically), Myanmar Mint and international mints for current coins

• Issuing bank: Central Bank of Myanmar

Coin denominations

• Historical coins: silver and gold kyats (1852–1889)

• Current coins (since 1956): 5, 10, 50, 100 kyats (pyas coins no longer circulated)

Banknote denominations

• 5, 10, 20, 50, 100, 200, 500, 1000, 5000, 10000 kyats

Economic and historical context

• The original kyat (1852–1889) was a gold and silver coin currency, with 16 silver kyats equal to 1 gold kyat.

• British colonial rule replaced the kyat with the Indian rupee until 1948.

• During Japanese occupation (1942–1945), a rupee-based currency subdivided into 100 cents was introduced, which became worthless after WWII.

• The current kyat was introduced on July 1, 1952, replacing the rupee at par and decimalized into 100 pyas.

• The kyat has undergone multiple redesigns and redenominations, including a major redenomination in 1989 removing two zeros from banknotes.

• Since 2012, the kyat operates under a managed float system against foreign currencies.

• Inflation and currency depreciation have been challenges, but the Central Bank manages monetary policy to stabilize the currency.

Minting and production locations

• Coins initially minted by the Royal Mint and others; current coins produced domestically and by contracted international mints.

Designs and symbols on coins and banknotes

• Coins feature traditional Burmese motifs and denominations in Burmese script.

• Banknotes depict national leaders, cultural symbols, landmarks, and historical figures.

Production volumes, honorees, and seals

• Specific mintages are not widely published.

• Commemorative issues exist for special events.

Commemorative coins and curiosities

• Myanmar issues commemorative coins for national and cultural occasions.

Current circulation status

• The Myanmar Kyat is the sole legal tender and actively circulating currency in Myanmar.

Issuing authority

• Central Bank of Myanmar

Relevant monetary legislation

• Currency issuance is regulated by Myanmar’s monetary laws and Central Bank regulations.

Names and titles of banknote signatories

• Banknotes bear signatures of the Governor of the Central Bank of Myanmar.

List of persons honored on coins and banknotes

• Banknotes feature prominent national figures and historical leaders; coins highlight cultural symbols.

Official language recognized by the state for administrative, legislative, judicial, monetary, and educational use:
Burmese is the official language of Myanmar, used in all official domains including administration, legislation, judiciary, finance, and education.