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.
15/02/2013: Launch of New MUR Banknotes
New series of Mauritian Rupee banknotes were launched, featuring enhanced security features and updated designs, reflecting the rich cultural heritage of Mauritius.
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.
08/09/2007: Currency Reform and New Coinage System
A currency reform was implemented, introducing new coins denominated in cents, with the aim of streamlining and modernizing the monetary system.
03/08/1999: Establishment of Bank of Mauritius
Bank of Mauritius Act was enacted, establishing the central bank responsible for the formulation and implementation of monetary policy in the country.
01/07/1994: Conversion to Decimal Currency System
Mauritian Rupee adopted the decimal currency system, replacing the previous pound-based system, with 1 Rupee consisting of 100 cents.
01/07/1992: Introduction of Polymer Banknotes
Polymer-based banknotes were introduced in Mauritius, replacing the traditional paper notes, to improve durability and security against counterfeiting.
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.
01/10/1979: Decentralization of Currency Printing
Printing of Mauritian Rupee banknotes was decentralized from the Bank of England to Mauritius, leading to enhanced national monetary control.
12/06/1967: Introduction of Mauritian Rupee
Mauritian Rupee was introduced as the official currency replacing the Mauritian Pound, with an initial exchange rate of 1 Rupee to 10 Shillings.
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.