Myanmar Kyat

About The Myanmar Kyat: The Strong Currency of Myanmar

Quick Facts About the Myanmar Kyat Notes

Country of Origin	Myanmar
Symbol	Pya
Currency Code	MMK
Nick Names
Minor units	Pya
Denominations (Banknotes)	Ks. 50/-, Ks. 100/-, Ks. 200/-, Ks. 500/-, Ks. 1,000/-, Ks. 5,000/- and Ks. 10,000/-
Motto
Identification Feature	When it comes to Ks. 1,000/- note, you will find the image of Aung San, the Burmese politician and activist, on the obverse side of the note.
Issuing Bank	Central Bank of Myanmar
In Circulation Since	July 1, 1952

Myanmar is formerly known as Burma, and its official currency is called the Myanmar Kyat (MMK). The kyat was initially derived from the ancient Burmese unit of measurement known as the kyattha, which was equivalent to 16.3 grammes of silver. One kyat is equal to one hundred pyas (also written as pyat). This currency is represented by the letter "K." The Myanmar kyat symbol is Pya.

It wasn't until 1952 that MMK was finally put into effect, following a series of political and economic changes.

The Myanmar kyat rate is INR (0 🔄) .

History of the Myanmar Kyat

At the present time, the issuance and distribution of kyat is solely the responsibility of the Central Bank of Myanmar, which is recognised by law as Myanmar's monetary authority. Gold and silver pieces were included in the initial circulation of the kyat currency, which took place in 1852. Because of the shared heritage of the British Empire and the Indian rupee during that time period, silver coins that were struck in the country between the years 1824 and 1948 were recognised as valid tender in India throughout that period.

By the year 1948, the Union Bank of Burma was the institution in charge of determining the nation's monetary policy. On the other hand, the bank did not start issuing its own money until the year 1952.

The present iteration of the kyat currency was introduced into use for the first time in 1952. Its initial value was based on the rupee, however, the value of that currency has significantly decreased since then. In 1962, the government took over all of the nation's banks and combined them into a single institution so that the transition to a socialist monetary system would be easier. The Central Bank of Burma was renamed the Central Bank of Myanmar in 1988, the same year that Burma returned to an economic structure that was based on free market principles.

Countries Accepting the Myanmar Kyat

Amount in the Myanmar Kyat You Should Carry for Your Trip

There are a lot of factors that go into determining how much money you will need to move around in the beautiful country of Myanmar, so it is important to keep all of these things in mind. The amount that you spend on transportation to and around your location, the cost of hotel, and the cost of food will all have an impact on the total price that you pay for your trip. When travelling to Myanmar on a limited budget, the average daily cost for a tourist can amount to about MMK70,198. If you choose to travel in style, dine at Michelin-starred restaurants, and only stay in five-star hotels throughout your whole trip, the cost of a single day of your vacation might easily surpass MMK136,032. Between now and then, the cost of travel for two people can range anywhere from MMK145,000 to MMK270,000.

In Myanmar, the cost of a room for the night can range anywhere from MMK8,047 to MMK48,045 per person, each day. Alternately, the daily cost of transportation could range anywhere fromMMK4,391 to MMK8,067 on average, depending on whether you travel by public transit or a private vehicle.

All in all, you can keep an eye on the live Myanmar kyat rate in order to exchange your currency notes. You can also keep an eye on the Myanmar kyat price for various exchange rates including 1000 Myanmar kyat to Indian rupee and Indian rupee to Myanmar kyat.