The MMK ( code MMK) is the currency of Myanmar (Burma). The typical notation for the kyat is “K.” (singular) and “Ks.” (plural), placed before the numerals followed by “/-“
The term kyat derives from the ancient Burmese unit kyattha (Burmese: ကျပ်သား), equal to 16.3 (16.329324593) grams of silver.
From 2001–2012, the official exchange rate varied between Ks.5/75 and Ks.6/70 per US dollar. However, the street rate , which more accurately took into account the standing of the national economy, has varied from Ks.750/- to Ks.1,335/- per USD . The black market exchange rates decrease during the peak of the tourist season in Burma .
On 2 April 2012, the Central Bank of Myanmar announced that the value of the kyat against the US dollar would float, setting an initial rate of Ks.818/- per US dollar.
On 20 March 2013, the Finance Ministry announced that it would abolish Foreign Exchange Certificates (FEC), which were mandatory for tourists to buy at least US$200 worth of until 2003, a measure used to discourage visitors from exchanging on the black market.