The currency abbreviation for the Myanmar kyat (MMK), the currency for Myanmar. The Myanmar kyat is made up of 100 pya and is often presented with the symbol K. Pya coins are very rare, but notes up to 1,000 kyat are commonly used. |||The Burmese kyat replaced the Indian rupee at par in 1952, but for many years a strong black market for the new currency forced the government to demonetize several times. In May of 1964, the 50 and 100 kyat notes were demonetized, and in 1985 the 20, 50, and 100 kyat notes were demonetized. The last demonetization occurred in 1987, when the government demonetized the 25, 35, and 75 kyat notes, rendering three quarters of the country's currency valueless. The modern Myanmar kyat was introduced in 1989 without a demonetization of the prior currency and is still in use today.
In currencies, this is the abbreviation for the Macau Pataca. |||The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
The currency abbreviation for the Macanese pataca, the currency for Macau. The Macanese pataca is made up of 100 avo or 10 ho, and is often presented with the symbol MOP$ (ex. MOP$100). The Macanese pataca is 100% backed by the foreign exchange reserves of the Hong Kong dollar (HKD). |||The Macanese pataca was first introduced in 1894 and was equivalent to the Mexican peso, Spanish dollar and the Hong Kong dollar - which were all equivalent at that time, replacing the Portuguese real at a rate of 450:1. The pataca was initially pegged to the Hong Kong dollar at par, but from 1935 until 1976, it was pegged to the Portuguese escudo. The peg returned to the Hong Kong dollar in 1977.
The entire quantity of bills, coins, loans, credit and other liquid instruments in a country's economy. |||Money supply is divided into multiple categories - M0, M1, M2 and M3 - according to the type and size of account in which the instrument is kept. The money supply is important to economists trying to understand how policies will affect interest rates and growth.
The currency abbreviation for the Mauritius rupee (MUR), the currency for Mauritius. The Mauritius rupee is made up of 100 cents and is often presented with the symbol Rs or Rp. |||First established in 1877, the Mauritius rupee replaced the Indian rupee, which had taken hold due to an influx of Indian immigrants to the country. Other currencies in circulation at the time were the British pound and the Mauritian dollar. Initially, the Mauritius rupee was pegged to the Indian rupee at par, but from 1934 to 1979, it was pegged to the British pound, at a rate of 13.3:1.
A credit facility that finances short- to medium-term Euro notes. Multicurrency note facilities are denominated in many currencies. This type of credit facility allows the borrower to choose which currency to use in each rollover period when the loan is refinanced, but allows the lender to choose the currency the loan is to be repaid in. |||Multicurrency note facilities are the riskiest lending avenue for borrowers. This is because the borrower assumes the foreign-currency risk in the transaction, since the lender decides which currency to receive repayment in, typically at a predetermined exchange rate. The loans from these facilities usually reprice about every six months.
In currencies, this is the abbreviation for the Maltese Lira. |||The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
The currency abbreviation for the Maltese lira (MTL), the currency for Malta from 1972 until December of 2007. The Maltese lira was made up of 100 cents or 1,000 mils, although mils stopped circulating in 1994. The Maltese lira was often presented with the symbol Lm or £ (used locally), and was sometimes referred to as the Maltese pound in English. Malta adopted the Euro in January 2008. |||Malta gained its independence from England in 1964, but until 1972 the British pound continued to circulate. In 1971, when the United Kingdom decimalized, Malta did not follow suit, and instead created its own decimal system based on the lira. From 1973 until 1986 both the pound and lira circulated, after which the lira circulated exclusively.
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