Timeline

• around 1853
• Issuance of two silver coins dated BE2396 weighing 1 Burmese kyat (16.3 grams); probably for presentation purposes only
• 11.11.1865
• CS:09.08.1226
• Opening of the mint in Mandalay
• 1866-1885
• CS:1227-1247
• Issuance of silver coins denominated 1, ½, ¼, ⅛, ¹⁄₁₆ Kyat, but in the weight standard of the British Indian Rupee, i.e. 29% lighter than the 1853 issues

Timeline

• 21.12.1885
• Ordinance [Circular No. 21] on the introduction of the Indian Rupee as sole legal tender in all Burma (technically, onle the freshly annexed Upper Burma), the earlier silver coinage remains tolerated at par; effective immediately
• 22.05.1889
• Ordinance [Notification No. 21] on the demonetization of the former Burmese subsidiary coins; effective 30.09.1889
• ??.??.1889
• Ordinance on the demonetization of the former Burmese silver coins; effective 31.03.1891 (extended to 31.03.1892 but with a rate of 1 Burmese Kyat = 15 Indian Annas)

Timeline

• 18.03.1937
• Ordinance [India and Burma (Burma Monetary Arrangements) Order], declares the Indian coinage legal tender (continued) for the Burma colony; effective 01.04.1937
• 13.09.1940
• Law [Currency Act, No. 25], amending the 1937 order, declares Reserve Bank of India notes legal tender (continued) for the Burma colony; effective 12.08.1940 (retroactive)
• 15.03.1942
• Ordinance of the Japanese Military Command on the introduction of the Japanese military currency in the occupied territories; effective immediately. The British Indian currency is not demonetized and circulated at par with the Military Yen (corresponding to a -22.4% devaluation)
  - validity of the British Indian currency was extended indefinitely by ordinance of 15.03.1943.
• 01.05.1942
• Start of issuance of occupation paper money with denominations expressed as "Rupee"
  - the Military Yen had decimal sub-units 10, 5, 1 Cents which circulated as 4, 2, ½ Annas
  - the Japanese occupation currency of Malaya was also admitted for payments
• 15.08.1944
• Founding of the "State Bank of Burma" for the planned independent state under Japanes protectorate:
  - banknotes of 100, 10, 5, 1 Kyat were produced but (due to the Japanese defeat) not issued for circulation.
• 01.05.1945
• Ordinance [Proclamation No. 6] of the British Military Command on the restoration of the pre-occupation monetary order:
  - Japanese occupation paper money was declared invalid without compensation
  - deposits in Japanese occupation currency were blocked until further notice.
• 09.06.1945
• Start of issuance of provisional paper money in Indian currency by the Britsh military adminstration
• 21.07.1947
• Law [Japanese Currency (Evaluation) Act] on the exchange of deposits in Japanese occupation currency; effective immediately:
  - exchange at 100% (titles of 1942), 75% (titles of 1943), 40% (titles of 1944), 5% (titles of 1945).

Timeline

• 23.09.1946
• Law [Currency Notes Act, No. 25] on the creation of a distinct currency; not implemented and repealed
• 20.12.1946
• Law [Currency and Coinage Act, No. 45] on the establishment of a currency board and the creation of a distinct currency; effective upon constitution of the board on 01.04.1947
• 01.04.1947
• Start of currency exchange:
  - 01.04.1947: Start of issuance of the new banknotes
  - 30.06.1948: Demonetization of the Indian paper money
  - 20.07.1950: Start of issuance of the new coins.

Valuation Regimes

• 1947-1952
• Fixed rate against British Pound

Timeline

• 02.04.1952
• Law [Union Bank of Burma Act, No. 9] on the central bank function of the Union Bank of Burma and the name change and decimalization of the currency; effective 01.07.1952:
  - The Union Bank of Burma was created as government owned bank by law [Union Bank of Burma Act, No. 60] of 01.10.1947.
• 01.07.1952
• Start of currency exchange:
  - 01.07.1952: Start of issuance of the new banknotes, the English denomination initially read "Rupee", then changed to "Kyat"
  - 01.10.1953: Start of issuance of the decimal subsidiary coins (10, 5 Pya)
  - 30.10.1953: Demonetization smallest non-decimal subsidiary coins (2, 1, ½ Pe) .
• 1964-1987
• Banknote exchanges with partial confiscation:
  - 15.05.1964: Recall of banknotes of 100, 50 Kyat, per person a maximum of 500 Kyat (later 200 Kyat) was exchanged at par into new notes, excess amounts were invalidated
  - 03.11.1985: Recall of banknotes of 100, 50 Kyat, per person a maximum of 5000 Kyat was exchanged at par into new notes, excess amounts had to be deposited on blocked accounts and were released afterwards with a 50% (later 75%) deduction
  - 05.09.1987: Invalidation of banknotes of 75, 35, 25 Kyat without compensation.
• around 1970
• Production of gold tokens without denominations for propaganda purposes by the government-in-exile under U Nu. They are commonly referred to as 8, 4, 2 Mu, based on a notional weight standard of 1 Kyat of 16 Mu at 16 grams of fine gold (the pre-colonial Burmese weight standard was 1 Kyat of 20 Mu at 16.293 grams).
• 15.02.1990
• Change [ISO-4217 Amendment No. 29] of the ISO 4217 currency code from "BUK" into "MMK" (after the change of the country's international name from Burma to Myanmar on 18.06.1989)

Valuation Regimes

• 1952-1966
• Fixed rate against British Pound
• 1966-1975
• Fixed rate against US Dollar, Burma did not follow the Indian devaluation of 06.06.1966
• 1975-2001
• Fixed rate against IMF Special Drawing Rights (SDR) unit
• 2012-
• Variable rate, the official rate was abandoned