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In 1993, Myanmar began issuing foreign exchange certificates (FEC) denominated in US dollars in denominations of $1, $5, $10, and $20. These were exchanged on a parity ratio with and were valued separately from the regular kyat. Conversion of foreign currency into kyats was made illegal as exchange rates were set artificially high.
In 1947, the Burma Currency Board took over the issuance of paper money, with notes for 1, 5, 10 and 100 rupees. Following independence in 1948, the government issued notes for the same denominations. In 1953, the Union Bank of Burma issued a final series of notes denominated in rupees, issuing the same denominations as the previous two series.
Myanmar, [d] officially the Republic of the Union of Myanmar [e] and also rendered as Burma (the official English form until 1989), is a country in northwest Southeast Asia.It is the largest country by area in Mainland Southeast Asia and has a population of about 55 million.
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2]; Exchange rate arrangement (Number of countries) Exchange rate anchor
Black market rates for the kyat have for years been significantly higher than the reference rate of Myanmar's central bank, currently set at 2,100 kyat per doll Myanmar junta arrests dozens in bid ...
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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.
List of all Asian currencies Present currency ISO 4217 code Country or dependency (administrating country) Currency sign Fractional unit Russian Ruble [1]: RUB Abkhazia ...