I am looking at BNM Facebook Page today and many are asking how much is the new exchange rate for their Myanmar Kyat banknotes. Most of you must already knew that Myanmar Kyat RV on 2 April 2012. Central Bank of Myanmar has released official Reference Foreign Exchange Rates as of 2 April 2012 in their website. The reference exchange rate of the kyat for account transactions against the U.S. dollar is based on the auctions conducted by the Central Bank of Myanmar and authorized domestic dealer banks. Central Bank of Myanmar said the price of the exchange will be done daily and the central bank will intervene to prevent big fluctuations. Before this, Myanmar Kyat was peg of 6.4 kyat to the US dollar. The new rate is very close to semiofficial free market rate.
Reference Foreign Exchange Rates as of 2 nd April 2012:
- United States Dollar: USD1=K818.
- Euro: EUR1=K1063.4.
- Singapore Dollar: SGD1=K638.40
- Pound Sterling: GBP1=K1309.2
- Swiss Franc: CHF1=906.57
- Japanese Yen: JPY100=K984.06
- Australian Dollar: AUD1=K853.19
- Bangladesh Taka: BDT1= K10.001
- Brazilian Real: BRL1=K447.82
- Brunei Dollar: BND1=K652.86
- Cambodian Riel KHR100=K20.497
- Canadian Dollar: CAD1=K821.08
- Chinese Yuan: CNY1=K129.88
- Czech Koruna: CZK1=K44.020
- Danish Krone: DKK1=K146.69
- Egyptian Pound: EGP1=K135.50
- Hong Kong Dollar: HKD1=K105.35
- Indian Rupee: INR1=K16.079
- Indonesian Rupiah: IDR100=K8.9458
- Israeli Shekel: ILS1=K220.44
- Kenya Shilling: KES1=K9.8510
- Korea Won: KRW100=K72.521
- Kuwaiti Dinar: KWD1=K2945.6
- Lao Kip: LAK100=K10.242
- Malaysian Ringgit: MYR1=K268.24
- Nepalese Rupee: NPR1=K10.070
- New Zealand Dollar: NZD1=K672.34
- Norwegian Kroner: NOK1=K143.71
- Pakistan Rupee: PKR1=K9.0267
- Philippines Peso: PHP1=K19.054
- Russian Rouble: RUB1=K27.898
- Saudi Arabian Riyal: SAR1=K218.12
- Serbian Dinar: CSD1=K9.7930
- South Africa Rand: ZAR1=K106.63
- Sri Lanka Rupee: LKR1=K6.3782
- Swedish Krona: SEK1=K123.69
- Thai Baht: THB1=K26.589
- Vietnamese Dong: VND100=K3.9264
This mean if you have 5000 kyat notes, you will have a value of only 6.11 dollars. The price changes everyday, today (4 April 2012) it change to 820 per 1 USD. You can check it at Central Bank of Myanmar website; www.cbm.gov.mm. For Ringgit Malaysia, if you have 5000 Myanmar Kyat the value will be RM18.64.
To all the currency investor, If you expect Myanmar Kyat RV will make you a millionaire, please stop dreaming about it. Some of you might be getting a huge lose because buying Myanmar Kyat from irresponsible currency trader. You can also read my post about Myanmar Kyat; Where to exchange Myanmar Kyat.
