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The first coins were issued in Myanmar by the kings of the Chandra Dynasty of the kingdom of Arakan in the seventh or eighth century AD. The Pyu and Mon people also issued coins during the eighth century.

Burma was united in the mid eleventh century when the Burmese people invaded present-day Myanmar. No coins were issued between the eleventh century and the sixteenth century, though silver coins from Bengal began circulating in the fourteenth century. The Arakan kings continued to issue coins until 1784 when the Burmese king Bodawpaya (1782-1819) conquered the Arakan. Bodawpaya issued coins imitating those of both the Arakan and Pyu. The Tenasserim, who lived in the south of Myanmar issued large lead coins, some 80 mm in diameter, between the seventeenth and eighteenth centuries.

In three wars from 1824 to 1885, the British conquered all of Burma. From 1852, British troops occupied coastal Burma. Under the Burmese king Mindon Min (1853-78) coins were minted in Mandalay using modern machinery from England. The coins matched contemporary Indian coins with 1 Kyat = 20 pe.

The Kingdom of Awa was annexed to British India on January 1, 1886. Under British control, Burma became a province of India. On April 1, 1937 mostly Buddhist Burma became a separate colony from mostly Hindu India. Burma was occupied by Japan from August 1, 1942 until May 3, 1945. In 1945, Burma fell under British military rule, under British civilian rule in 1946, and an interim Burmese government was established in 1947. Burma gained its independence as the Union of Burma on January 4, 1948, and was renamed the Union of Myanmar on June 18, 1989.

The British standardized the silver Rupee (INR) throughout India. Banknotes were issued by the Government of India. Indian government notes redeemable only in Rangoon began to be issued in August 1883 (by India, Act No. 20 of 1882). Burmese-issued coins were demonetized on 1 April 1892.

The Indian Silver Rupee was used in Myanmar from 1886 until April 1, 1939 when Indian currency ceased to be legal tender in Burma. On April 1, 1937, Burma began issuing its own Rupee (BUR) banknotes through the Reserve Bank of India. Burma was part of a currency union with India until World War II began.

When invading Burma during the Second World War, from about 31 January 1942, Japanese forces initially carried Japanese military dollars issued in Malaya. A decree of the Japanese military administration dated 1 May 1942 stated that Japanese military dollars would continue to be legal tender. By the same decree, the Japanese military rupee (BUG) became a decimal currency. By the regulation of 15 March 1943, the Burmese rupee continued to be legal tender, as a Japanese tactic to win local support, but the rupee was inconvertible into pound sterling. Limited amounts of (Burmese) Indian rupees were apparently accepted by the Japanese at 4 (Burmese) Indian rupees = 1 Japanese military rupee. The prewar exchange rate had been about 1.3 Japanese yen = 1 (Burmese) Indian rupee. On 1 May 1942, the Japanese military commander-in-chief in Burma declared that Japanese military dollars for Malaya and Singapore would also be allowed to circulate in Burma.

The Japanese also created the Burma State Bank on January 15, 1944 to issue banknotes. The Japanese divided the Rupee into 100 cents, whereas the British had divided the Rupee into 16 Annas as in India. The British demonetized Japanese occupation currency on 1 May 1945. The market exchange rate had fallen to 100 Southern Development Bank rupees = 1 Indian rupee.

The British Military Administration issued banknotes between May 1, 1945 and January 30, 1946, the government of Burma issued notes between January 31, 1946 and March 30, 1947, and on April 1, 1947 the Burma Currency Board was formed to issue banknotes. The Government of Burma issued banknotes between 1948 and 1953.

The Kyat (BUK) replaced the Rupee at par on July 1, 1952 when the Union Bank of Burma replaced the Burma Currency Board, and the Myanmar Kyat (MMK) replaced the Burmese Kyat on June 18, 1989. The Kyat is divisible into 100 Pya. The Union Bank of Burma was established on February 3, 1948 and was given the exclusive right to issue banknotes in Burma. The bank's name was changed to the People's Bank of the Union of Burma on November 1, 1969, the Union Bank of Burma on September 30, 1972, and the Central Bank of Myanmar in 1990.

The Government of Myanmar has also issued Foreign Exchange Certificates (MMX) denominated in Dollars for foreign visitors.

Here is a 1 Rupee note from the Japanese Occupational Force printed in 1942. The note is green and pink on the obverse and green on the reverse. The obverse depicts the Ananda Temple in Pagan. Ananda was built in 1105 by King Kyanzittha, restored in 1783. One of the most admired temples in Pagan, it is formed as a Greek (equal-armed) cross. Each arm of the cross forms a hall attached to its central mass. Past the hall and in towards the center is a shrine, an arrangement which is repeated on all four sides of the temple. The reverse is an ornate design showing the denomination to the left, right and center.

• Krause# Pick-14a or b

This is a 5 Rupee note from the Japanese Occupational Force printed between 1942 and 1944. The note is violet and yellow on the obverse and violet on the reverse. The Obverse features the Ananda Temple in Pagan. The temple, based on a Greek cross, has 4 equal arms. Each 'arm' has an interior shrine, and each shrine has a statue representing 1 of the 4 'historical' buddhas. The north shrine features Kakusandha. The reverse shows an ornate design showing the denomination.

• Krause# Pick-15b

This next note is a 10 Rupees note from the Japanese Occupational Force printed between 1942 and 1944. The note is dull red and light green on the obverse and dull red on the reverse. The Obverse features the Ananda Temple in Pagan. Each of the 4 statues in the temple are about 9 feet tall, and made of gilded wood. The east shrine features Konagamanda. The reverse is an ornate design and shows the denomination. The note has a 'floral' looking watermark repeating over the face of the note.

• Krause# Pick-16a

Here is a 10 Rupees note from the Japanese Occupational Force printed between 1942 and 1944. The note is dull red and green on the obverse and dull red on the reverse. The Obverse features the Ananda Temple in Pagan. The first three of these buddhas are legendary. The fourth and latest, Siddhartha Gautama, lived from 563 to 483 BC and is the founder of Buddhism. The south shrine features Kassapa. The reverse shows an ornate design with the denomination.

• Krause# Pick-16b

This note is a 100 Rupee note from the Japanese Occupational Force printed in 1944. The note is dark green and gray-violet with the reverse being only dark green. The Obverse features the Ananda Temple in Pagan. The west shrine features Siddhartha Gautama. It is also believed that a fifth buddha - Maitreya, the Buddha of the Future - will appear in the future, after the teachings of the present Buddha (Siddhartha) have been lost.

• Krause# Pick-17b

Here is a 1 Kyat note printed in 1958. The note is black, green and pink. The obverse shows General Aung San, and is also shown as the watermark. The reverse is gray, and shows dhows (a traditional Arab sailing vessel with one or more lateen sails) to the center.

• Krause# Pick-46a

This is a 1 Kyat note printed in 1965. The note is purple and blue-gray on multicolor underprint. The obverse features General Aung San. The reverse depicts the national Coat-of-Arms to the upper left and a fisherman to the right.

• Krause# Pick-52

Here is a 1 Kyat note dated 1972. This note is green and blue on multicolored underprint, and depicts General Aung San to the left on the obverse. The reverse shows an ornate native wheel assembly to the right. General Aung San is also depicted in a watermark.

• Krause# Pick-56

This 10 Kyat note is undated, issued in 1973. The note is red and violet on multicolored underprint. The obverse features a military portrait of General Aung San to the left. Aung San was instrumental in bringing about Burma's independence from British colonial rule, but was assassinated six months before its final achievement. The reverse depicts a native ornament. The note has a watermark depicting General Aung San.

• Krause# Pick-58

Here is an undated 25 Kyats note, issued in 1972. The note is brown and tan on multicolored underprint. The obverse features General Aung San (born February 1915 and died by assasination on July 19th 1947, was a Burmese revolutionary, nationalist, and founder of the modern Burmese army, or Tatmadaw) to the left. The reverse depicts a mythical winged creature in the center. The note has a watermark of General Aung San.

• Krause# Pick-59

Here is a 35 Kyats note. A very strange denomination indeed. The note is brown-violet and purple on multicolored underprint. General Aung San in a military hat is depicted on the obverse, and the reverse shows a mythical dancer to the left. This note has a watermark showing General Aung San.

• Krause# Pick-63

This note is also a 1 Kyat note and is dated 1990. The obverse of this note is pale brown and orange on multicolored underprint, and shows General Aung San to the left as well as the watermark. The reverse depicts a dragon carving to the left.

• Krause# Pick-67

He is a 50 Pyas note dated 1994. This note is dull purple and dull brown on gray and tan underprint. The obverse shows a musical string instrument, and the reverse shows some ornate desings.

• Krause# Pick-68

Here is a 1 Kyat note dated 1996. This note is gray, blue and purple on multicolored underprint, and depicts a Chinze to the right on the obverse. The reverse depicts a water scene.

• Krause# Pick-69

This is a 5 Kyat note dated 1996. This note is dark brown and blue-green on multicolored underprint, and depicts a Chinze statue to the left. The reverse shows a ball game.

• Krause# Pick-70b

This is a 10 Kyat note and is dated 1996. The note is deep purple and violet on multicolored underprint, and depicts a Chinze statue near the center. The reverse of this note shows an elabroate barge.

• Krause# Pick-71b

Here is a 20 Kyats note and is dated 1994. This note is deep olive green, brown and blue-green on multicolored underprint. The obverse shows a Chinze statue to the left, and the reverse depicts a fountain of elephants in a park. A watermark shows a Chinze bust covered by the value.

• Krause# Pick-72

This note is valued at 50 Kyats, and while undated, was placed in circulation in 1997. The note is red-brown, tan and dark brown on multicolored underprint. The obverse features a chinz statue. The chinze is a mythological Burmese lion. The reverse depicts a coppersmith at work in the center sourounded by an ornate design. This note carries a watermark of a chinze bust with the notes value.

• Krause# Pick-73b

• Krause# Pick-