Purchasing Power

Burmese Currency

• The Banking authorities in Burma (e.g. Union Bank) issued Currency notes backed by Gold Reserves.
• The bills were signed by authorities (e.g. Sithu U Kaung, U San Lin).
• One US dollar traded at 5 – 6 kyats, and one Sterling pound around 12 – 13 kyats.

Old Receipt from 1979

• The Old Receipt (for 146 Kyats and 50 Pyas) is a testament of the purchasing power in the 70s.
• It was for a farewell dinner for Saya U Myo Win (M/Ag65) by 25 members of the RIT Automobile Club.

Decline in the value of the Kyat

Three rounds of Demonetization, mismanagement, … saw a huge decline in the value of the Kyat.

Snap shots of the exchange rate :

• 1 Kyat = 4 (or more) Bahts (Early days)
• 1 Kyat = 1 Baht (Baht Taik Kyat Taik Khit)
• 4 (or more Kyats) = 1 Baht