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.
15/10/2018: Government Formation
The formation of a new Iraqi government after parliamentary elections brought hopes of stability and potential economic growth, positively impacting the Iraqi dinar.
23/04/2015: Foreign Exchange Market Liberalization
Restrictions on foreign exchange were lifted, allowing a more liberalized foreign exchange market in Myanmar.
10/06/2014: ISIS captures Mosul
The capture of Mosul by ISIS led to a further devaluation of the Iraqi dinar and economic instability in the region.
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.
15/10/2004: Introduction of New Iraqi Dinar
A new series of banknotes with enhanced security features was introduced to replace the previous Iraqi dinar notes.
20/03/2003: US-led Invasion of Iraq
The US-led invasion led to the collapse of the Iraqi government, causing instability and a sharp decline in the value of the Iraqi dinar.
02/08/1990: Iraq invades Kuwait
Iraq's invasion of Kuwait resulted in international economic sanctions and further devaluation of the Iraqi dinar.
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.
22/09/1980: Iran-Iraq War Begins
The Iran-Iraq war started, leading to significant economic challenges and inflation which impacted the Iraqi dinar.
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.
03/10/1932: Independence of Iraq
The Iraqi dinar was introduced as the official currency of Iraq following its independence from British occupation.