People's Bank of Burma Banknotes: 1965 Aung San Kyat
Explore People's Bank of Burma Banknotes: Aung San 1965 Kyat issues (1, 5, 10, 20 Kyats) from post-1962 coup era. Discover their designs, features, & context.


Explore People's Bank of Burma Banknotes: Aung San 1965 Kyat issues, spanning 1, 5, 10, and 20 Kyats, from Burma's post-1962 coup era. These significant banknotes represent the next chapter in currency featuring General Aung San. Building on the Union Bank of Burma 1958 Aung San Kyat Banknotes—the first to feature him prominently—this article delves into the unique designs, key features, and historical context of the notes issued by the People's Bank of Burma.
1962 Burmese coup d'état
The key event behind the issuance of the People's Bank of Burma banknotes is the 1962 coup d'état, and it is important to discuss this event.
The 1962 Burmese coup d'état marked a significant turning point in Burma's history, as it abruptly ended the country's brief experiment with democracy and initiated a long period of military rule. On 2 March 1962, General Ne Win, the head of the Burmese Army, orchestrated a coup that overthrew the democratically elected government of Prime Minister U Nu. This coup was largely driven by growing concerns among the military about ethnic separatism, political instability, and the perceived inefficacy of civilian governance.
In the years leading up to the coup, Burma faced numerous challenges, including internal divisions within the ruling Anti-Fascist People's Freedom League (AFPFL), economic difficulties, and rising ethnic tensions. U Nu's government struggled to maintain control and address these issues effectively. The military, which saw itself as the guardian of national unity, grew increasingly alarmed by the federalist demands of ethnic minority groups and the weakening central authority.
On the morning of the coup, the military swiftly took control of key government buildings and communication centers and arrested prominent political leaders, including U Nu. General Ne Win declared the formation of the Revolutionary Council, which would govern Burma under a socialist framework. Ne Win justified the coup by asserting that it was necessary to prevent the country from descending into chaos and to preserve its unity and sovereignty.
Following the coup, the new military regime implemented sweeping changes. Political parties were banned, and a one-party system under the Burma Socialist Programme Party (BSPP) was established. The regime nationalized major industries and adopted an isolationist policy, including nationalizing all the banks on 27 February 1963. One of the key policies was also the establishment of the People's Bank of Burma.
Overview of the People's Bank of Burma
The People's Bank of Burma, which was a result of the 1962 Burmese coup d'état, played a crucial role in shaping the financial landscape of Burma (now Myanmar). Established in 1965 following the nationalization of banks under General Ne Win's socialist regime, the bank aimed to centralize and control the country's financial system as part of the broader economic and political reforms known as the Burmese Way to Socialism.
Before the establishment of the People's Bank of Burma, the country's banking sector comprised various private and foreign banks. The naturalization process was intended to eliminate foreign influence and private ownership in key economic sectors, including banking. This move was driven by the regime's goal to create a self-reliant socialist state, free from colonial-era economic structures.
The People's Bank of Burma assumed multiple responsibilities, functioning as both a central bank and a commercial bank. It regulated the money supply, issued currency, and managed the country's foreign exchange reserves. Additionally, it provided commercial banking services to the public, including savings accounts, loans, and financial services to support agricultural and industrial development. This dual role was intended to streamline economic planning and ensure that financial resources were directed toward national development priorities.
During its operation, the bank faced numerous challenges, including managing the complexities of a centrally planned economy and dealing with the inefficiencies inherent in a state-controlled financial system. Despite these challenges, the People's Bank of Burma was instrumental in financing key infrastructure projects and promoting rural development through various credit schemes. Regardless of the above, the People's Bank of Burma left behind its legacy by issuing its banknotes.
People's Bank of Burma Issue
On 2 March 1962, General Ne Win orchestrated a coup and seized power in Burma. The new government initiated several nationalization programs, including the banking sector. On 23 February 1963, the government nationalized all 24 banks, comprising 14 foreign and 10 national banks.
Since the coup in 1962, all six denominations of the Union Bank of Burma 1958 issue continued to be used but a significant change occurred on 17 May 1964, when the 50 Kyats and 100 Kyats banknotes were demonetized. From then on the remaining denominations continued to be used until a new issue was later issued.
Despite the fact the Myanmar Ministry of Planning and Finance website mentions that "To be in line with the People's Bank of the Union of Burma Act of 1967, all the nationalized banks were merged as a monolithic bank called People's Bank of the Union of Burma," but the website of the Central Bank of Myanmar mentions that all four denominations of the banknotes of the People's Bank of Burma were issued on 30 April 1965. Thus, this is largely mentioned as the issue date in various references.
The People's Bank of Burma, which was established following the nationalization of the banking sector under General Ne Win's socialist regime, issued banknotes that reflected the country's new ideological direction. These banknotes, introduced as part of the broader Burmese Way to Socialism, were designed to promote national identity and socialist values.
The banknotes of the People's Bank of Burma came in four denominations, based on the denominations of the Union Bank of Burma 1958 issue that were in use, i.e. 1 Kyat, 5 Kyats, 10 Kyats, and 20 Kyats. This issue was printed in East Berlin, the capital of East Germany from 1948 to 1990.
Key Common Features
A key common feature across many denominations is the portrait of General Aung San, a revered national hero and a key figure in Burma's independence movement. This issue features a portrait of Aung San wearing an open-necked shirt. This portrait was taken from a World War II photograph. Aung San's portrait is enclosed within an oval frame at the center of the banknotes. His image on the banknotes served both to honor his legacy and to reinforce the government's legitimacy.
The banknotes bear no signature and no date. Thus, this banknote is the first series of banknotes after the independence of Burma that don't have any signature at all. In addition, the banknotes also do not have any security thread. In addition, the banknotes also do not have any watermark window.
Another important common feature is that at the top center on the front, the text which reads "pyidaung zu myanma naing ngan daw pyi thu ban" in Burmese is written. The text means "People's Bank of the Union of Burma States". On the left side on the front and the right side on the reverse, the denominations are printed in Burmese in a vertical position. On the front, to the left of Aung San's portrait, the note's value is prominently displayed in large Burmese numerals, while on the left, the value is shown in Western Arabic numerals. In addition, the banknotes displayed monetary values in Burmese numerals at the upper left and bottom right, and in Western Arabic numerals at the upper right and bottom left.
The rear side of the banknotes bears the State Seal of Burma which was used from 4 January 1948 to 3 January 1974. The seal features three mythical lions and a circle surrounding the map of the country. In the circular frame surrounding the map, there is a text in Burmese that reads “tha met ga na, ta paw, thu khaw.” The text is from Verse 194 from the Buddhavagga in the Dhammapada, written in Pali which is "samaggānaṃ tapo sukho", which could be roughly translated as "the perseverance of those working together brings happiness" or "virtue and thrift make happiness." At the bottom, there is a banner that means "Republic of the Union of Burma".
1 Kyat Aung San Banknote
The 1 Kyat banknote measures 115 x 66 mm. The color scheme of this note is purple and blue-gray.
On the left side on the front to the left of the frame is the denomination of One Kyat in Burmese script. To the left of Aung San's portrait, is the value one in Burmese numerals, while, to the right is the value "1" in Western Arabic numerals. On both front and reverse, at the upper left and bottom right of the frame is the value one in Burmese numerals, while, at the upper right and bottom left of the frame, is the value "1" in Western Arabic numerals.
On the reverse side, the denomination of "One Kyat" in English is displayed at the top left within the frame. Also, on the right side on the reverse to the right side of the frame is the denomination of One Kyat in Burmese script.
The main illustration on the reverse is the fisherman, from the Intha community of the famous Inlay Lake, standing in his boat and holding up a fishing net. The text "People's Bank of Burma" is displayed below the State Seal of Burma.
The prefix/prefixes of the notes are in Burmese letters, while, the serial numbers of the notes are in Burmese numerals. The prefix/prefixes and serial numbers are in red. For banknotes with a single prefix letter in Burmese, the prefix and serial numbers are on the same line. While, for banknotes with two prefix letters in Burmese, the prefix and serial numbers are displayed on different lines, i.e. with the prefix letters on the top line above the serial numbers.
Denomination: 1 Kyat
Issuer: Peoples Bank of Burma
Size: 115 x 66 mm
Color: Purple and blue-gray
Obverse Design: Aung San wearing open-necked shirt
Date: None
Signature: None
Material: Paper
Security Thread: None
Watermark: Circular pattern
Printer: East Berlin
Variety 1
Prefix and serial number: Displayed single line
Catalog Number: Banknote Book B901a; Pick 52
Variety 2
Prefix and serial number: Displayed two lines
Catalog Number: Banknote Book B901b; Pick 52
5 Kyat Aung San Banknote
The 5 Kyat banknote measures 150 x 70 mm. The color scheme of this note is green and light blue.
On the left side of the front, next to the frame, is the denomination "Five Kyats" in Burmese script. To the left of Aung San's portrait is the value "five" in Burmese numerals, while to the right is the value "5" in Western Arabic numerals. Both the front and reverse feature the value "five" in Burmese numerals at the upper left and bottom right of the frame, and the value "5" in Western Arabic numerals at the upper right and bottom left of the frame.
On the reverse side, the denomination "Five Kyats" in English and "5" in Western Arabic numerals is displayed below the State Seal of Burma. Additionally, on the right side of the reverse, next to the frame, is the denomination "Five Kyats" in Burmese script.
Below the portrait of Aung San is the water lily. The main illustration on the reverse features a farmer wearing a hat standing beside an ox in the field, holding a rope rein. The text "People's Bank of Burma" is displayed at the bottom center within the frame.
The prefix and serial numbers of the note are displayed at the top right and bottom left in red color. The one at the top right is a combination of English letters and Western Arabic numerals, while the one at the bottom left is a combination of Burmese letters and Burmese numerals. In both places, the prefix and serial numbers are displayed on the same line.
Denomination: 5 Kyat
Issuer: Peoples Bank of Burma
Size: 150 x 70 mm
Color: Green and light blue
Obverse Design: Aung San wearing open-necked shirt
Date: None
Signature: None
Material: Paper
Security Thread: None
Watermark: Circular pattern
Printer: East Berlin
Catalog Number: Banknote Book B902; Pick 53
10 Kyat Aung San Banknote
The 10 Kyat banknote measures 159 x 81 mm. The color scheme of this note is red-brown and violet.
On the left side of the front, to the left of the frame, is the denomination "Ten Kyats" in Burmese script. To the left of Aung San's portrait is the value "ten" in Burmese numerals, while to the right is the value "10" in Western Arabic numerals. On both the front and reverse, the value "ten" in Burmese numerals is positioned at the upper left and bottom right corners of the frame, while the value "10" in Western Arabic numerals is at the upper right and bottom left corners.
On the reverse side, the denomination "Ten Kyats" in English is displayed below the State Seal of Burma. Additionally, on the right side of the reverse, to the right of the frame, is the denomination "Ten Kyats" in Burmese script.
Below the portrait of Aung San is the chinthe or mythical lion. The chinthe is also displayed on the top center of the reverse within the frame. The main illustration on the reverse features a woman picking cotton. The text "People's Bank of Burma" is displayed at the bottom center within the frame.
The prefix and serial numbers of the note are presented in red color, positioned at the top right and bottom left corners. At the top right, the combination comprises an English letter and Western Arabic numerals, while at the bottom left, it consists of Burmese letters and Burmese numerals. In both instances, the prefix and serial numbers are arranged on the same line.
Denomination: 10 Kyat
Issuer: Peoples Bank of Burma
Size: 159 x 81 mm
Color: Red-brown and violet
Obverse Design: Aung San wearing open-necked shirt
Date: None
Signature: None
Material: Paper
Security Thread: None
Watermark: Circular pattern
Printer: East Berlin
Catalog Number: Banknote Book B903; Pick 54
20 Kyat Aung San Banknote
The 20 Kyat banknote measures 169 x 90 mm. The color scheme of this note is brown and tan.
On the front, adjacent to the frame on the left side, is the denomination "Twenty Kyats" inscribed in Burmese script. Positioned to the left of Aung San's portrait is the numeral "twenty" in Burmese script, while on the right side appears the numeral "20" in Western Arabic numerals. Both the front and reverse sides feature the numeral "twenty" in Burmese script at the upper left and bottom right corners of the frame, and the numeral "20" in Western Arabic numerals at the upper right and bottom left corners.
On the reverse side, below the State Seal of Burma, the denomination "Twenty Kyats" is displayed in English along with "20" in Western Arabic numerals. Furthermore, on the right side of the reverse, adjacent to the frame, is the denomination "Twenty Kyats" inscribed in Burmese script.
The main illustration on the reverse features a farmer riding a tractor in a field. Due to this illustration, this note is nicknamed by collectors of Burma banknotes as "the tractor note." The text "People's Bank of Burma" is displayed at the upper center on top of the main illustration.
The prefix and serial numbers of the note are presented in red color, with the prefix and serial number positioned at the top right and bottom left corners, respectively. The serial number at the top right comprises a combination of English letters and Western Arabic numerals, while the one at the bottom left consists of Burmese letters and numerals. In both instances, the prefix and serial numbers are aligned on the same line.
Denomination: 20 Kyat
Issuer: Peoples Bank of Burma
Size: 169 x 90 mm
Color: Brown and tan
Obverse Design: Aung San wearing open-necked shirt
Date: None
Signature: None
Material: Paper
Security Thread: None
Watermark: Circular pattern
Printer: East Berlin
Catalog Number: Banknote Book B904; Pick 55
Conclusion
This second series of banknotes featuring Aung San, i.e. the banknotes issued by the People's Bank of Burma, are historical artifacts that reflect the country's journey through a pivotal era of its development, marked by ambitious socialist reforms and the enduring legacy of its independence movement. In the next article, we will take a look at the next series issued by the Union of Burma Bank.
Frequently Asked Questions
Q: What historical event led to the establishment and issuance of banknotes by the People's Bank of Burma?
A: The People's Bank of Burma was established following the 1962 Burmese coup d'état led by General Ne Win. This coup ended Burma's democracy and initiated a period of military rule and socialist reforms, including the nationalization of all banks and the centralization of the financial system under the new bank in 1965.
Q: What portrait of General Aung San is featured on the People's Bank of Burma banknotes?
A: These banknotes feature a portrait of General Aung San wearing an open-necked shirt, which was taken from a World War II photograph. His portrait is centrally placed within an oval frame, honoring his legacy and reinforcing the legitimacy of the government.
Q: What key common features distinguish the People's Bank of Burma banknotes?
A: These banknotes uniquely bear no signature, no date, no security thread, and no watermark window, marking them as the first post-independence series without a signature. They prominently display "People's Bank of the Union of Burma States" in Burmese on the obverse and the State Seal of Burma on the reverse.
Q: What denominations were issued by the People's Bank of Burma?
A: The People's Bank of Burma issued four denominations: 1 Kyat, 5 Kyats, 10 Kyats, and 20 Kyats.
Q: Where were the People's Bank of Burma banknotes printed?
A: Unlike previous issues often printed by Thomas De La Rue, the People's Bank of Burma banknotes were printed in East Berlin, which was the capital of East Germany from 1948 to 1990.