Myanmar Kyat

Overview

Economy

• Myanmar is a member of ASEAN, BIMSTEC, Non-Aligned Movement.
• Main industries include: Agricultural processing, Wood and wood products, Copper, Tin, Tungsten, Iron, Cement, Construction materials, Pharmaceuticals, Fertilizer, Oil and natural gas, Garments.
• Myanmar is part of the World Trade Organization.
• Imports are fabric, petroleum products, fertilizer, plastics, machinery, transport equipment, cement, construction materials, food products, edible oil.
• Major exports include natural gas, wood products, pulses, beans, fish, rice, clothing, minerals.
• GDP: $65.7 billion (2020 est.).
• GDP per capita: $1,207 (2020 est.).
• Unemployment rate: 4% (2017 est.).
• Inflation rate: 23.5% (2021 est.).
• Main trading partners: China, Thailand, India, Singapore, Malaysia, Japan.
• Trade agreements: ASEAN FTA (status unclear), Limited due to sanctions.

History

• Previous currencies used: Indian rupee, Burmese rupee.
• The kyat was introduced in 1952, replacing the rupee. It has undergone multiple reforms and has been subject to various exchange rate regimes.
• 1952: Kyat introduced, replacing Indian rupee
• 1962: Military coup and socialist economy
• 1987: Demonetization causing economic crisis
• 2011: Exchange rate reforms began
• 2021: Military coup and economic disruption
• 2021-present: Significant currency depreciation
• Exchange rate peg: Multiple exchange rates, managed float.

General Information

• ISO 4217 Code: MMK
• Symbols: MMK/Ks
• Currency Subunits: 100 pyas
• Central Bank: Central Bank of Myanmar
• Monetary Policy: Disrupted monetary policy due to political instability. Previously managed float with multiple exchange rates.
• Bills: 5 MMK, 10 MMK, 20 MMK, 50 MMK, 100 MMK, 200 MMK, 500 MMK, 1000 MMK, 5000 MMK, 10000 MMK
• Coins: 1 pya, 5 pyas, 10 pyas, 25 pyas, 50 pyas, 1 kyat
• USD Exchange Rate: Variable (approximately 2100-2200 MMK per USD, highly volatile)
• Pegged To: None (Floating)
• Capital: Naypyidaw
• Population: 56,590,071 (2023 est.)
• Area: 676,578 km²
• Languages: Burmese (official), Shan, Karen, Rakhine, Chinese, Indian, English
• Time Zones: UTC+6:30 (Myanmar Time)
• Government Type: Military junta (since 2021 coup)
• Head of Government: Senior General (military leader)
• Independence: January 4, 1948 (from United Kingdom)
• Ethnic Groups: Burman 68%, Shan 9%, Karen 7%, Rakhine 4%, Chinese 3%, Indian 2%, Mon 2%, Other 5%
• Religions: Buddhist 87.9%, Christian 6.2%, Muslim 4.3%, Animist 0.8%, Hindu 0.5%, Other 0.2%, None 0.1%
• Literacy Rate: 75.6% (2016 est.)
• Transport: Yangon International Airport, limited road and rail networks, river transport important, Yangon port
• Communications: Limited telecommunications, 41% internet penetration (restricted), mobile networks
• Energy: Natural gas 70%, Hydroelectric 28%, Coal 1%, Oil 1%
• Countries Using This Currency: Myanmar
• Data Sources: Central Bank: Central Bank of Myanmar (limited data access), Economic Data: Central Statistical Organization Myanmar, World Bank estimates, IMF, Trade Data: Ministry of Commerce (limited access), Demographic Data: Department of Population (limited access), Geographic Data: Department of Meteorology and Hydrology, Historical Data: Central Bank archives (limited access)
• Last Updated: 2025