"Myanmar
New Money Currency Note 5000-Kyats"
 
Myanmar 25th, September, 2009
Myanmar Currency History will make a landmark issuance of 5000 Kyats
currency notes at the end of October 2009 according to a Myanmar Government
announcement Thursday.
The note worth about 5 US$ in value (Exchange rate on the street 1 US$ =
1080 Kyats) will create a big impact to the country's ecomony.
In the past, Myanmar is famous for is peculiar currency notes such as 45, 75
and 95 Kyats notes. People's wealth vanished overnight when 100-kyats notes
are abolished in 1987.
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If you want to buy 5000 kyats note as a souvenir, you can buy it
online now.
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BANGKOK, Thailand
(CNN) -- Myanmar's government
announced Thursday that it will begin circulating a new currency note next
week.
The new note would be the largest unveiled by the military regime.
The 5,000 kyat note, which is worth less than US$5, will be the largest bank
note that the southeast Asian country has ever had. It will be released into
circulation on October 1, according to an announcement on Myanmar's
state-run MRTV.
There was no explanation for the government's decision to introduce the new
bill. Currently, the largest note is the 1,000 kyat bill, which is worth
less than $1
The announcement has raised concerns that Myanmar's economy is not faring
well, said a veteran independent journalist who lives in Yangon. He declined
to be named citing security concerns.
Myanmar is a
closed country whose military rulers have a tight grip on information and do
not tolerate dissent or criticism.
The journalist said the cost of living is already high for the average
person in Myanmar, which is also known as Burma. The decision to introduce
the 5,000 kyat bill could depreciate the value of the country's currency and
have broader economic repercussions, he said.
The sudden cancellation of some Burmese currencies in 1987 sparked anger and
led to a mass demonstration in August 1988.
At that time, people's savings were diminished overnight.
Source from
:
http://edition.cnn.hu/2009/BUSINESS/09/24/myanmar.new.currency/index.html
http://www.travelblog.org/Photos/952315.html?popped=1
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