kyat kyat

Definition(s):

  • (n) the basic unit of money in Myanmar

Usage(s):

  1. One measure of the country's economic dysfunctionality is that while the kyat's official exchange rate is about six to a dollar, the black market values the dollar at 1,160 kyat.
  2. In November the authorities challenged the shadow economy by exchanging all 20-, 50- and 100-kyat notes for new 75-kyat bills.
  3. Growth is negligible, the kyat is pushing 1,000 to the dollar and inflation is running between 50% and 70%.

News

  • Myanmar To Adopt International Gold Standard For The First Time With Plans To Relax Export Restrictions

    In another step toward joining the international community, the previously isolated nation of Myanmar is adopting the international measurement standards to issue gold bars for the first time, further opening the Burmese gold market to the outside world. This means Myanmar will start selling gold with 99.99 percent purity in the international unit of gram, instead of the Myanmar currency kyat ...
    on February 14, 2014     Source: International Business Times

Word of the Day
nebulous nebulous
/ˈnɛb jə ləs /