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What is the currency of Myanmar?

The kyat is the common currency of Myanmar, with banknotes of 50 cents and 1, 5, 10, 20, 50, 100, 200, 500, 1000, 5000 and 10,000 kyats.

Among them, the 5,000-kyat banknote was issued on October 1, 2009. Although it is the largest banknote in the history of Myanmar banks, its actual value is still less than US$5.

History Development

The kyat is the official currency of Myanmar and its English name is kyat. The name is derived from the ancient Burmese unit of measure kyattha, equivalent to 16.3 grams of silver.

The history of the Kyat can be divided into three periods: 1852-1889, 1943-1945 and 1952-present. Before 1889, Myanmar used silver and gold coins as its currency. Nominally, 16 silver dollars are equivalent to 1 gold dollar. The Indian rupee replaced the kyat after Myanmar was occupied by the British.

When Japan occupied Burma in 1942, a currency based on the rupee was introduced. After the war, the Burmese rupee was re-used in 1945. The current kyat kyat was introduced on July 1, 1952. It replaced the rupee with a face value, and the new version of the kyat adopted a decimal conversion method, and the kyat was subdivided into 100 pya (cents).

The latest version of the pattern

Saung gauk is printed on the front of the 50 cent (pya) note. Saung gauk is an arched harp used in traditional Burmese music. It is considered to be the national musical instrument of Myanmar. It is unique in that it is a very old harp tradition and is said to be the only harp that has survived in Asia. On the back is a pattern called Guilloché.

There are two versions of the 1 kyat banknote, with the fronts of General Aung San and Chinthe printed on the front, and the Guilloché pattern and boating on Kandawgyi Lake in Yangon on the back.

Chinthe is the obverse design of 1, 5, 10, 20, 50, 100, 200, 500 and 1000 Kyat banknotes. Chinthe is a highly stylized leogryph, a lion-like creature commonly seen in Burmese imagery and in Burmese architecture, especially as a pair of guardians flanking stupas and the entrance to Buddhist temples. Chinthe is symbolically used as an element of Burmese icons on many revered objects, including Palin, Burmese royal thrones and Burmese bells.

The back of the 5 kyat is printed with a picture of the game of takraw, which is a traditional sport in Myanmar and has the reputation of Myanmar’s “national ball”. On the back of the 10 kyat is karweik, a palace on the east bank of Kandaji Lake in Yangon, Myanmar. On the back of the 20 kyat is a picture of Yangon People’s Park and the Elephant Fountain. On the back of the 50 kyat is a picture of a lacquer artist. Printed on the back of the 100 kyat is the refurbishment of the temple. On the back of the 200 kyat is a picture of an elephant dragging teak. Teak is the national tree of Myanmar and is known as the national treasure of Myanmar.

On the back of the 500 kyats is a stucco image of the statue of General Mahabandola. The general who died in battle was regarded as a national hero by the Burmese because of his resistance to the British colonial invasion. Today, some of Myanmar’s famous classics are named after him, such as Bandura Square Park.

On the back of the 1,000 kyat is the Planning and Finance Ministry Building. Interestingly, on January 4, 2020, a new version of the 1,000-kyat banknote was issued, with General Aung San, the father of the nation, printed on the front and the House of Parliament of the Union of Myanmar printed on the back. The front of the 5,000 kyat is printed with a white elephant, and the back is printed with the Myanmar Union Parliament Building. The front of the 10,000 kyat is printed with the national emblem of Myanmar, and the back is printed with the moat of the Mandalay Palace.

Image Source: Internet