History of Burmese Currency In Four Era
The currency used in Myanmar is called Ngay and are also called Pikesan, pronounced money. Pikesan is a term used to refer to a coin in India. The term used to count and measure the money is Mukyat. It is a system that uses up to 100 plates per kyat. The smallest counting unit is the flat. The smallest currency is a penny. The largest banknote has a value of 10,000 kyats.
On 1966 October 15th, the revolutionary government Finance and Tax Department (50) (25) plates, (10) plates, (1) Issue new coins such as coins. These silver coins are made of Dan metal. The face of the silver coin has the image of General Aung San and the value is written on the back.
In 1971 December 27th, the Myanmar kyat exchange rate was fixed.
In 1972 February 7th, the foreign currency bank exchange rate will be adjusted.
Myanmar kyats are exchanged at a rate of around 1,200 kyats per US dollar.
In 1952, Burmese kyat started on July 1. One kyat was set at the same price as one Indian rupee. At that time US$1=4.7619 Kyat = 4.7619 Indian Rupees. Prices to the nearest US$1.00 can be used to study Burmese political events and memorabilia. Although the exchange rate of one US dollar was only 49.5 Indian rupees in 2011, Being 750 Myanmar kyats shows the instability of the history of Myanmar currency.
Pu Era – Han Lin
During the era of Vishnu and Sera Chitra, Hanlin coins were minted, fish drunk seeds Mung bean and called drunken seed. Cow Laustaba There are evidences that the Arakan coins printed with the names of Thay Nyunt and Min and the Mon coins with the figure of Hintha were issued and used as currency.
During the Ava era, only coins and coins were used. twenty sons It is reported that he used the modern Burmese coins were minted in Calcutta during the reign of Bo Tao Pagoda of the Konepao period. They are Burmese coins, Rakhine coins Vaishali coin, Chinese coins. Even those four were used during the reign of the great sage Tharayawati and Paganmin.
First Kyat money (1852-1889)
During the reign of Min Ton, a coin foundry was purchased from England, and on the 7th day of the full moon of the year 1227, Burmese peacock coins were cast in Mandalay’s Naypyitaw. Peacock coins with gold, Produced soybeans and paid one kyat for money. fish drunk seeds Tamarind seeds Five types of tamu seed and tapa seed were cast. At that time, the exchange rate was about 15 Kyats of Burmese coins to one pound of English gold coins.
In 1885, Burma was occupied by British imperialists and Indian silver coins were imported as currency. Both Burmese coins and Indian coins issued by Minton Min are officially accepted in Myanmar.
In 1897, Burma was ranked as a province of the Indian Empire. The Government of India, under an act of 1861, issued notes as well as coins. The use of these banknotes was allowed in Myanmar.
The new Constitution Act of 1935 allowed Burma to secede from India, and on April 1, 1937, it was given a 91-department administration. However, the right to issue banknotes for Myanmar was still entrusted to the Reserve Bank of India, which was established in 1935.
Initially, the Indian government issued notes that were printed as legal tender in Burma Only as notes for Burma to use. In 1938, the Reserve Bank of India issued a 5-rupee ton for Burma. 10-Rs. 100-rupee and 10,000-rupee notes were issued in a unique format.