[ noun ] the basic unit of money in Myanmar <noun.quantity>
Analysts say one of the main obstacles to the expansion of Burma's international trade remains the artificially high value of the kyat, which Rangoon has refused to devalue.
Although multinational oil companies are nibbling the bait of exploration possibilities, foreign investment continues to be deterred by the government's refusal to even partially devalue the grossly overvalued kyat.
The kyat trades officially at about 6.5 to the U.S. dollar but at more than 40 to the dollar on the thriving black market.
The tongue-lashing was a harbinger of things to come: In September 1987, the government declared worthless all banknotes over 15 kyat (officially $2.34 but about one-seventh of that on the black market).