24-7-2023 (YANGON) The Central Bank of Myanmar (CBM) has announced the release of new 20,000 kyats banknotes on July 31 to commemorate the completion of the Maravijaya Buddha Image, a giant marble statue of Lord Buddha in Nay Pyi Taw, and the first birthday of a rare white elephant. The new banknotes will be issued in limited numbers and will be available through an exchange process where individuals can exchange them with current banknotes, particularly old ones that are no longer suitable for circulation.
The new banknotes will be available for exchange at the central bank’s branches in Nay Pyi Taw, Yangon, and Mandalay. The CBM has clarified that the existing banknotes currently in circulation will remain as official currency alongside the new denomination.
The new banknote design is dominated by light green and features a Myanmar-style artistic portrayal of a white elephant on the front, while the back displays the illustration of Sagaing Bridge and Ayeyarwady Bridge. The banknote dimension is 15 centimeters in width and seven centimeters in height.
Once released, the 20,000 kyats banknotes will become the highest denomination among Myanmar’s current currency notes. The CBM’s reference exchange rate on Sunday stands at 2,100 kyats per U.S. dollar.
