Burma Currency name

Myanmar Currency Name

Kyat (pronounced "chat") is the official currency of Myanmar, abbreviated as "K" or "MMK" and is usually placed before the numerical value (i.e. convert money in and from Myanmar Kyat (MMK) in and from foreign currencies at current exchange rates). Burmese banks, moneylenders and microfinance Sean Turnell The name'rupee' has been retained as the official name of Burma's currency. Burmese dissident explains why people in Burma launder their money.

There are no basic provisions to combat money laundering in Burma. Burma - Active emergency zone.

Geschichte[edit]>>

Myanmar's currency was the currency of Burma (now Myanmar) between 1852 and 1952, with the exception of 1943-1945. As Burma was captured by the British, the India rivulet substituted the Cyat at face value. In 1897, the Rangoon banknotes of the same general nature as those in India were released by the Rangoon authorities, but with language used in Burma and not in India.

From 1917 and 1927 on, India banknotes were printed for use in Burma. In 1937, when Burma became its own settlement, a special edition of banknotes was made for use only in Burma, but no coins were used. In 1942, when the Japs marched into Burma, they adopted a new currency: the 100-cent currency.

The currency was only printed. In 1943 the roupee was substituted by the cyat. Burma returned to using its own currency and its own Rupie notes and coin in 1945. Burma adopted its own currency of rupees after gaining sovereignty in 1948, made up of notes and coin.

Rupees are split into 16 Pe (corresponding to the lndian Anna), each of 4 pya (corresponding to the lndian Pice). In 1952 the rivie was substituted by the cyat at face value. These corresponded to the sizes, forms and copper-nickel compositions of the India, 1 and 2 ans and and the ¼ and ½ rupe.

From 1897 to 1922 scores for 5, 10 and 100 rupiah were printed, which differ from those of India only in the language used. During 1917 Rupee 2.COPY6 sheet music was printed over for use in Burma, with 50 Rupies in 1927 and 100 Rupies between 1927 and 1937 also printed over for the same use.

During 1937, 5, 10 and 100 rupiah banknotes of the Reserve Bank of India were printed with the text "Legal Tender in Burma Only". Burma's first ordinary banknotes were issued by the Reserve Bank of India in 5, 10, 100, 1000 and 10,000 rupee denominations in 1938.

1942 the Japanese spent 1, 5 and 10 cent banknotes, , , 1, 5, 10 and 100 rupiah. In 1944 these were substituted by 1, 5, 10 and 100 Cyat sheet music, also known as the short-lived second one. The military administration in 1945 released 1, 5, 10 and 100 rupee printed banknotes to substitute the Japanese Kyoto banknotes.

1947 the Burma Currency Board took over the issue of banknotes for 1, 5, 10 and 100rupies. In 1948, after the country's sovereignty, the German authorities gave marks for the same demarcations. The Union Bank of Burma in 1953 released a last set of banknotes in rupee, which contained the same denominations as the two foregoing.

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