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.
23/04/2015: Foreign Exchange Market Liberalization
Restrictions on foreign exchange were lifted, allowing a more liberalized foreign exchange market in Myanmar.
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.
10/09/2008: Introduction of Birr Denominations
Ethiopia introduced new banknotes of different denominations in an effort to combat counterfeiting and improve security features.
27/05/1991: Introduction of Birr Coins
Ethiopia introduced coins for the birr denominations, replacing the previous notes.
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.
17/09/1976: Introduction of New Birr
A new birr was introduced, replacing the previous Ethiopian birr and being equal to 100 old birr.
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.
08/07/1945: Decree to Change Birr Decimalization
Ethiopia changed the birr decimalization from talari and ghersh to dollars and cents.
31/12/1931: Introduction of Ethiopian birr
The Ethiopian birr was introduced as the official currency, replacing the Maria Theresa Thaler.
05/07/1931: Ethiopian Monetary Authority Established
The Ethiopian Monetary Authority was established to regulate the country's monetary system and issue currency.
14/02/1894: Introduction of Maria Theresa Thaler
Ethiopia adopted the Maria Theresa Thaler as the official currency, which remained in circulation until 1935.