Currency - Myanmar kyat

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Myanmar kyat

Ks
The kyat (, or ; ကျပ် ; ISO 4217 code MMK) is the currency of Myanmar (Burma). 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.

The term kyat derives from the ancient Burmese unit kyattha, equal to 16.3 grams of silver.

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.

The kyat was a denomination of both silver and gold coinages in Burma until 1889. It was divided into 20 pe, each of 4 pya, with the mu and mat worth 2 and 4 pe, respectively. Nominally, 16 silver kyats equal 1 gold kyat. The silver kyat was equivalent to the Indian rupee, which replaced the kyat after Burma was conquered by the British.

When the Japanese occupied Burma in 1942, they introduced a currency based on the rupee. This was later replaced by banknotes in all kyat denominations. This kyat was subdivided into 100 cents. The currency became worthless at the end of the war when the Burmese rupee was reintroduced in 1945.

Country

Burma

Myanmar (English pronunciation below; ), officially the Republic of the Union of Myanmar and also known as Burma, is a country in Southeast Asia. Myanmar is bordered by India and Bangladesh to its west, Thailand and Laos to its east and China to its north and northeast. To its south, about one third of Myanmar's total perimeter of 5876 km forms an uninterrupted coastline of 1930 km along the Bay of Bengal and the Andaman Sea. The country's 2014 census counted the population to be 51 million people. As of 2017, the population is about 54 million. Myanmar is 676578 km2 in size. Its capital city is Naypyidaw, and its largest city and former capital is Yangon (Rangoon). Myanmar has been a member of the Association of Southeast Asian Nations (ASEAN) since 1997.

Early civilisations in Myanmar included the Tibeto-Burman-speaking Pyu city-states in Upper Burma and the Mon kingdoms in Lower Burma. In the 9th century, the Bamar people entered the upper Irrawaddy valley and, following the establishment of the Pagan Kingdom in the 1050s, the Burmese language, culture and Theravada Buddhism slowly became dominant in the country. The Pagan Kingdom fell due to the Mongol invasions and several warring states emerged. In the 16th century, reunified by the Taungoo dynasty, the country was for a brief period the largest empire in the history of Mainland Southeast Asia. The early 19th century Konbaung dynasty ruled over an area that included modern Myanmar and briefly controlled Manipur and Assam as well. The British took over the administration of Myanmar after three Anglo-Burmese Wars in the 19th century and the country became a British colony. Myanmar was granted independence in 1948, as a democratic nation. Following a coup d'état in 1962, it became a military dictatorship under the Burma Socialist Programme Party.

Language

Myanmar kyat (English)  Kyat birmano (Italiano)  Myanmarese kyat (Nederlands)  Kyat (Français)  Kyat (Deutsch)  Quiate (Português)  Кьят (Русский)  Kyat birmano (Español)  Kiat (Polski)  缅元 (中文)  Kyat (Svenska)  Kyat (Română)  チャット (日本語)  М'янмський к'ят (Українська)  미얀마 짯 (한국어)  Myanmarin kyat (Suomi)  Kyat (Bahasa Indonesia)  Kijatas (Lietuvių)  Myanmarský kyat (Česky)  Kyat (Türkçe)  Мјанмарски кјат (Српски / Srpski)  Mianmari kjap (Magyar)  Mijanmarski kjat (Hrvatski)  จัต (ไทย)  Kyat (Tiếng Việt) 
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