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The kyat was a denomination of both silver and gold coinages in Burma until 1889. It was divided into 16 pe, each of 4 pya, with the mu and mat worth 2 and 4 pe, respectively. Nominally, 16 silver kyats equal 1 gold kyat. The silver kyat was equivalent to the Indian rupee, which replaced the kyat after Burma was conquered by the British.
The rupee was replaced by the kyat in 1943. In 1945, the Japanese occupation currency was declared worthless and Burma reverted to using Indian coinage and its own rupee paper money, with the pre-war value of the Burmese rupee restored. Following independence in 1948, Burma introduced its own rupee currency, consisting of coins and banknotes.
The economy of Myanmar is the seventh largest in Southeast Asia. [6] After the return of civilian rule in 2011, the new government launched large-scale reforms, focused initially on the political system to restore peace and achieve national unity and moving quickly to an economic and social reform program. [7]
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).
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]
As the kyat was indispensable for everyday transactions for the people in Myanmar, there was a steady demand for it even before the crisis. With the crisis making kyat-denominated bank deposits overly risky and virtually worthless (due to frozen accounts [22] and illiquidity of the banks), demand for kyat increased and supply of kyat decreased ...
Between February 2021 and August 2024, 172 Myanmar journalists were detained, 28 of them women. Hundreds of my colleagues fled across the border to Thailand to escape the military’s dragnet.
Myanmar is known by a name deriving from Burma in Spanish, Italian, Romanian, and Greek. [53] French-language media consistently use Birmanie. [54] [55] There are at least nine different pronunciations of the English name Myanmar, and no single one is standard. Pronunciations with two syllables are found most often in major British and American ...