22/02/2021: Kyat's Depreciation Challenges
The Burmese kyat faced significant depreciation and instability due to political turmoil and the military coup in Myanmar.
26/06/2020: Currency peg under review
Barbados announced that it would review the decades-long currency peg of 2:1 with the US dollar, considering a shift to a floating exchange rate.
23/04/2015: Foreign Exchange Market Liberalization
Restrictions on foreign exchange were lifted, allowing a more liberalized foreign exchange market in Myanmar.
05/08/2013: Devaluation of currency
Barbados devalued its currency by 10% to stimulate economic growth and competitiveness.
02/04/2012: Managed Float Regime Implemented
The Burmese government adopted a managed float exchange rate regime, allowing the kyat to fluctuate based on market forces.
24/07/1995: New currency design
Barbados introduced a new design for its currency, featuring national symbols and landmarks.
01/04/1990: Foreign Exchange Certificates Introduced
Foreign Exchange Certificates (FECs) were introduced as a parallel currency to stabilize the economy and control the black market.
01/09/1987: Second Kyat Revalued
Due to hyperinflation, the Burmese kyat was again revalued, with 1 kyat replacing 10 new kyats.
05/05/1975: Introduction of decimalization
Barbados introduced decimalization, dividing the Barbadian Dollar into 100 cents.
01/01/1973: Fixed exchange rate
Barbados fixed its currency exchange rate to the US dollar at a rate of 2 Barbadian Dollars to 1 US Dollar.
03/07/1972: Barbados gains independence
Barbados gained independence from British rule, leading to the establishment of the Central Bank of Barbados.
01/12/1964: Kyat Revalued
The Burmese kyat underwent a major revaluation, with 1 new kyat replacing 100 old kyats to combat inflation.
01/07/1952: Kyat Introduced
The Burmese kyat was first introduced as the official currency of Burma, replacing the Indian rupee at an exchange rate of 1 kyat = 1 rupee.
01/10/1935: Introduction of Barbadian Dollar
The Barbadian Dollar was introduced as the official currency of Barbados, replacing the East Caribbean dollar.