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The black market exchange rates (USD to MMK) decrease during the peak of the tourist season in Burma (December to January). During the 2003 Myanmar banking crisis, the kyat's black market rate appreciated when distrust in kyat-deposited banks increased demand for kyat banknotes. [4] At its peak, the kyat traded for as high as Ks. 850/- per USD. [5]
In August, the Central Bank of Myanmar tried tethering the kyat 0.8% either side of its reference rate against the dollar, but gave up on Sept. 10 as pressure on the exchange rate mounted.
Exchange rates: kyats per US dollar – 1,205 (2008 est.), 1,296 (2007), 1,280 (2006), 5.82 (2005), 5.7459 (2004), 6.0764 (2003) note: unofficial exchange rates ranged in 2004 from 815 kyat/US dollar to nearly 970 kyat/US dollar, and by year end 2005, the unofficial exchange rate was 1,075 kyat/US dollar; data shown for 2003–05 are official ...
These were replaced in 1944 by notes issued in 1, 5, 10, and 100 kyats, also known as the short lived Second Burmese kyat. In 1945, the Military Administration issued overprinted Indian notes for 1, 5, 10 and 100 rupees to replace the Japanese issued kyat notes.
A gold shop in Thailand. The necklace chains are denoted by their weight in baht.. The tical is a unit of mass (or weight in the colloquial sense) historically used in Mainland Southeast Asia, particularly in the predecessor states of Myanmar, where it is known as the kyat (kyattha), and of Cambodia and Thailand, where it is known as the baht (bat).
The Central Bank of Myanmar was founded as the Union Bank of Burma on 3 April 1948 by the Union Bank of Burma Act, 1947 [2] [3] and took over the functions of the Rangoon branches of the Reserve Bank of India. [4]
Examples of metrication in Myanmar include weather forecasts by the Department of Meteorology and Hydrology being given with temperatures in Celsius. [8] Petrol in Myanmar is sold with prices in Burmese kyat per litre (K/L). [9] [10] Speed limits in Myanmar are given by law in kilometres per hour (km/h). [11] [12]
This is the list of banks in Myanmar. There are a total of 31 local banks and 13 foreign branched banks in Myanmar. [1] Central bank. Central Bank of Myanmar;