Burma Banknote Issuers: History of Currency
Explore the history of Burma banknote through its currency issuers—from the Government of India, Reserve Bank of India, to the Government of Burma and beyond.
The history of Burma banknotes offers a fascinating tale of economic, political, and social evolution. This article serves as a comprehensive guide to explore the history of Burma currency through its issuers—from the Government of India and Reserve Bank of India to the Government of Burma and beyond. While Burma's currency was integrated into British India from the 1880s until 31 March 1937, this piece specifically delves into the various entities that issued banknotes from 1 April 1937 onwards, exploring their historical context, significance, and impact on the nation's monetary system.
Government of India
From the 1880s to 31 March 1937, Burma was integrated into British India. The Indian Paper Currency Act, 1882 (No. XX. of 1882) extended British India paper currency to British Burma and established Rangoon as a new circle of issue. Consequently, the currency used in Burma during this period was the Indian rupee, issued by the Government of India. Indian banknotes for use in Burma bear the name "Rangoon" or the initial "R" to signify Rangoon.
On 1 April 1937, Burma became a separate British colony and 5, 10, and 100 Rupees King George V banknotes of the Government of India were overprinted with the text "LEGAL TENDER IN BURMA ONLY" and were used as the official currency in British Burma. The first type of overprint was in black within the design and was difficult to read. The second type of overprint was in red in the top margin which is much easier to notice was then issued.
It is important to note that despite the mention of overprinted 1000 Rupee George V notes in the Indian Paper Money catalog and the Banknote Book, these notes were not officially overprinted. All known overprints on the 1000 Rupee notes have crude red stamps and are contemporary forgeries.
Key Features:
Issuer: Government of India
Currency: Indian Rupee
Denominations: 5, 10, and 100 Rupee
Printer: India Security Press
Obverse Design: King George V banknotes of India with overprint
Overprint text: Legal Tender in Burma Only
Banknote Book Catalog Number: B101, B102, and B103
Pick Catalog Number: 1, 2, and 3
Reserve Bank of India
The Reserve Bank of India (RBI), founded on 1 April 1935, began issuing banknotes for British India in 1938. As per the Burma Monetary Arrangements, the Reserve Bank of India issued banknotes for Burma with denominations of 1, 5, 10, 100, 1000, and 10000 Rupees. Due to the presence of peacock on the 5 Rupees and 100 Rupees notes - this series is sometimes referred to as the Peacock Series. These banknotes have the text "I promise to pay the bearer the sum of ......... Rupees at any office of issue in Burma". These notes had trilingual text in English, Burmese, and Shan.
Key Features:
Issuer: Reserve Bank of India
Currency: Burmese Rupee
Denominations: 5, 10, 100, 1000, and 10000 Rupee
Printer: India Security Press
Obverse Design: King George VI
Banknote Book Catalog Number: B201, B202, B203, B204 and B205
Pick Catalog Number: 4, 5, 6, 7 and 8
In addition to the above paper money of Burma, according to the Currency Act, 1940 (Act No. XVI of 1940), the Government of India One Rupee banknotes were rendered legal tender in Burma in the same manner that the silver coin which is the "India rupee coin" shall be legal tender in British Burma for the payment of any amount.
Japanese Government
During World War II, in 1942, Burma was occupied by the Japanese forces. As a result, the Japanese government issued its banknotes for use in the occupied territories, including Burma. These banknotes were known as Foreign Denomination Military Certificates or Japanese Invasion Money. Denominations of 1 cent, 5 cents, 10 cents, 1/4 rupee, 1/2 rupee, 1 rupee, 5 rupees, 10 rupees and 100 rupees were issued. These banknotes were part of the broader strategy of the Japanese Empire to control and integrate the economies of occupied territories.
Key Features:
Issuer: Japanese Government
Currency: Japanese Government issued Rupee (1 rupee = 100 cents)
Denominations: 1, 5, and 10 cent, 1/4, 1/2, 1, 5, 10, and 100 Rupee
Printer: Greater Japan Imperial Government
Design: Japanese Invasion Money theme
Banknote Book Catalog Number: B301, B302, B303, B304, B305, B306, B307, B308, and B309
Pick Catalog Number: 9, 10, 11, 12, 13, 14, 15, 16, and 17
Burma State Bank
Burma declared its independence from Japan on 1 August 1943, and the Burma State Bank was established on 15 January 1944. It issued two series of banknotes, the first series bears the peacock on the front and the Mandalay Palace on the back with the denominations 1 kyat, 5 kyats, 10 kyats, and 100 kyats, and the second series bears the portrait of Ba Maw on front and the Mandalay Palace on back with only one denomination, i.e. the 100 kyats. The second series was never issued.
Key Features:
1st Series
Issuer: Burma State Bank
Currency: Burmese Kyat
Denomination: 1, 5, 10 and 100 Kyat
Printer: Greater Japan Imperial Government
Design: Peacock and Mandalay Palace
Banknote Book Catalog Number: B401, B402, B403 and B404
Pick Catalog Number: 18, 19, 20 and 21
2nd Series
Issuer: Burma State Bank
Currency: Burmese Kyat
Denominations: 100 Kyat
Printer: Local printer in Rangoon
Design: Ba Maw and Mandalay Palace
Banknote Book Catalog Number: B405
Pick Catalog Number: 22
Military Administration of Burma
After World War II, British control was re-established in Burma. In 1945, the Military Administration of Burma (MAB) initially took charge. The 1 rupee banknote issued by the Government of India bearing the portrait of King George VI, and also the 5 rupees, 10 rupees, and 100 rupees banknotes issued by the Reserve Bank of India bearing the portrait of King George VI were overprinted with the text "MILITARY ADMINISTRATION OF BURMA LEGAL TENDER IN BURMA ONLY" and were circulated for use as paper money in British Burma. Banknotes with the values of 4 Annas and 8 Annas, seen in the booklet, were also prepared but never issued. These notes were transitional, reflecting the immediate post-war context and the reassertion of British military control.
Key Features:
Issuer: Military Administration of Burma
Currency: Burmese Rupee
Denominations: 1, 5, 10, and 100 Rupee
Printer: India Security Press
Obverse Design: King George VI notes of India with overprint
Overprint text: Military Administration of Burma Legal Tender in Burma Only
Banknote Book Catalog Number: B501, B502, B503, B504, and B505
Pick Catalog Number: 25, 26, 27, 28, and 29
Burma Currency Board
On 31 March 1947, the Burma Currency Board (BCB) replaced the Military Administration of Burma (MAB) as the banknote issuing authority. The Burma Currency Board was established to provide a more structured approach to currency issuance as Burma moved towards independence. The 1 rupee banknote issued by the Government of India bearing the portrait of King George VI, and also the 5 rupees, 10 rupees and 100 rupees banknotes issued by the Reserve Bank of India bearing the portrait of King George VI were overprinted with the text "BURMA CURRENCY BOARD LEGAL TENDER IN BURMA ONLY" and were circulated for use as paper money in British Burma. These notes paved the way for a stable currency system that would be inherited by the independent Burmese government.
Key Features:
Issuer: Burma Currency Board
Currency: Burmese Rupee
Denominations: 1, 5, 10, and 100 Rupee
Printer: India Security Press
Obverse Design: King George VI notes of India with overprint
Overprint text: Burma Currency Board Legal Tender in Burma Only
Banknote Book Catalog Number: B601, B602, B603, and B604
Pick Catalog Number: 30, 31, 32, and 33
Government of Burma
On 4 January 1948 at 4.20 am, which was chosen for its auspiciousness, Burma became an independent nation leading to the establishment of the Government of Burma and then the Government of the Union of Burma when the country became a republic. The first series issued after independence had values of 1 rupee, 5 rupees, 10 rupees and 100 rupees. "GOVERNMENT OF BURMA" appears on the 1 rupee and 5 rupees notes, while, "GOVERNMENT OF THE UNION OF BURMA" appears on the 10 rupees and 100 rupees notes.
Key Features:
Issuer: Government of Burma / Government of the Union of Burma
Currency: Burmese Rupee
Denominations: 1, 5, 10, and 100 Rupee
Printer: Thomas De La Rue
Design: Peacock / Chinthe with Burmese cultural / lifestyle themes
Banknote Book Catalog Number: B701, B702, B703, and B704
Pick Catalog Number: 34, 35, 36, and 37
Union Bank of Burma
After the enactment of the Union Bank of Burma Act on 17 March 1952, the Union Bank of Burma (UBB) took control of issuing banknotes and issued 3 series of banknotes. The first series issued by the Union Bank of Burma or the second series issued after independence has the same values, i.e. 1 rupee, 5 rupees, 10 rupees, and 100 rupees, as the first series and similar design but bears the name "UNION BANK OF BURMA". The next series had a similar design as the second series after independence but the denomination was changed to kyat instead of rupee. The denominations are 1 kyat, 5 kyats, 10 kyats, and 100 kyats. 20 and 50 Kyat banknotes were also prepared but never issued. Banknotes of the third series of the Union Bank of Burma or the fourth series after independence are also like the preceding series but with the portrait of Aung San, the national hero of Burma, on the front. With the additions of 2 new denominations that were previously prepared, this series has denominations of 1 kyat, 5 kyats, 10 kyats, 20 kyats, 50 kyats, and 100 kyats.
Key Features:
1st Series
Issuer: Union Bank of Burma
Printer: Thomas De La Rue
Currency: Burmese Rupee
Denominations: 1, 5, 10, and 100 Rupee
Banknote Book Catalog Number: B801, B802, B803, and B804
Pick Catalog Number: 38, 39, 40, and 41
2nd Series
Issuer: Union Bank of Burma
Printer: Thomas De La Rue
Currency: Kyat
Denominations: 1, 5, 10, and 100 Kyat
Banknote Book Catalog Number: B805, B806, B807, and B808
Pick Catalog Number: 42, 43, 44, and 45
3rd Series
Issuer: Union Bank of Burma
Printer: Thomas De La Rue
Currency: Kyat
Denominations: 1, 5, 10, 20, 50, and 100 Kyat
Banknote Book Catalog Number: B809, B810, B811, B812, B813, and B814
Pick Catalog Number: 46, 47, 48, 49, 50, and 51
Peoples Bank of Burma
Following the military coup by Ne Win in 1962, the Revolutionary Council introduced significant economic and currency reforms. All banks were nationalized, and the Peoples Bank of Burma was established. The Peoples Bank issued 1 kyat, 5 kyat, 10 kyat, and 20 kyat banknotes bearing the portrait of Aung San. The new regime's banknotes featured socialist and revolutionary themes, reflecting the political ideologies of the time.
Key Features:
Issuer: Peoples Bank of Burma
Currency: Kyat
Denominations: 1, 5, 10, and 20 Kyat
Printer: East Berlin
Design: Aung San with socialist themes
Banknote Book Catalog Number: B901, B902, B903, and B904
Pick Catalog Number: 52, 53, 54, and 55
Union of Burma Bank
In 1972, before the establishment of the Socialist Republic of the Union of Burma in 1974, there was another reform in the country which led to the formation of the Union of Burma Bank (different from the Union Bank of Burma). The Union of Burma Bank issued two series of banknotes. The first series all bearing the portrait of Aung San has denominations of 1 kyat, 5 kyats, 10 kyats, 25 kyats, 50 kyats, and 100 kyats. The second series is an interesting series with odd denominations, likely because Ne Win believed in numerology. The denominations consist of 15 kyats, 35 kyats, 45 kyats, 75 kyats, and 90 kyats.
Key Features:
1st Series
Issuer: Union of Burma Bank
Printer: Security Printing Wazi (Burma)
Currency: Kyat
Design: Socialist and cultural themes
Denominations: 1, 5, 10, 25, 50 and 100 Kyat
Banknote Book Catalog Number: B1001, B1002, B1003, B1004, B1005, and B1006
Pick Catalog Number: 56, 57, 58, 59, 60, and 61
2nd Series
Issuer: Union of Burma Bank
Printer: Security Printing Wazi (Burma)
Currency: Kyat
Design: Socialist and cultural themes
Denominations: 15, 35, 45, 75 and 90 Kyat
Banknote Book Catalog Number: B1007, B1008, B1009, B1010, and B1011
Pick Catalog Number: 62, 63, 64, 65, and 66
In 1989, the country's official name was changed to the Union of Myanmar. Banknotes of Myanmar are covered in the article Central Bank of Myanmar Banknotes.
Conclusion
The banknotes of Burma have seen several issuers over the years, reflecting the country's historical and political changes. From the Government of India to the Government of Burma to the Union of Burma Bank, each issuer played a significant role in shaping the country's monetary system. Understanding the different issuers of banknotes in Burma provides valuable insights into the country's economic and political history.
Frequently Asked Questions
Q: Which entity initially issued currency for Burma when it was part of British India?
A: From the 1880s until Burma's separation on March 31, 1937, the Government of India was the primary issuer of currency. Indian banknotes for use in Burma often bore the name "Rangoon" or the initial "R" to signify their issuing circle.
Q: What role did the Reserve Bank of India (RBI) play in issuing currency for Burma after 1937?
A: After Burma became a separate British colony on April 1, 1937, the Reserve Bank of India (RBI), as per the Burma Monetary Arrangements, continued to issue banknotes for Burma. These included denominations from 5 to 10,000 Rupees, sometimes referred to as the "Peacock Series," and were distinct from those used in India.
Q: Which authorities issued banknotes in Burma during World War II?
A: During World War II, both the Japanese Government (issuing Japanese Invasion Money or JIM after the 1942 occupation) and the Burma State Bank (established 1944, issuing its own Kyat notes) were responsible for currency. Later, the Military Administration of Burma (from 1945) issued overprinted Indian notes during the British re-occupation.
Q: How did currency issuance evolve as Burma moved towards and gained independence?
A: As Burma transitioned to independence, the Burma Currency Board (established 1947) took over from the Military Administration, issuing overprinted Indian banknotes. Upon achieving independence on January 4, 1948, the Government of Burma (later Government of the Union of Burma) began issuing its own series of banknotes.
Q: What entities issued banknotes in Burma after 1952 until the country's name change in 1989?
A: After 1952, the Union Bank of Burma became the sole issuer of banknotes, releasing three series including those featuring Aung San. Following the 1962 coup, the People's Bank of Burma was established and issued its own notes. Later, the Union of Burma Bank (a distinct entity from Union Bank of Burma) also issued two series, including the notable "odd denomination" banknotes, before the country was renamed Myanmar in 1989.