The Republic of the Union of Myanmar

Central Bank of Myanmar

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National Payment System in Myanmar

        One  of  the  main  responsibilities  of  the  Central  Bank  of  Myanmar  is  to develop  an efficient,  fast, safe  and  reliable  national  payment  system.  In  line  with  this  purpose, the Central  Bank  of  Myanmar  has  issued  policies  for  payment  system.  In  the  area  of Cash  Payment  system,  the  policies  covered  three  principal  aspects, including fulfilling  public  needs  for  currency, ensuring  that  bank  notes  are  fit  for  circulation, and taking preventive  and  repressive  measures  against  the  circulation  of  counterfeit  currency. In  the area  of  non-cash  payment  system, the  policies  are  focused  on  mitigating risks  and improving efficiency  of  payment  system. In  general, payment system activities experienced an  improvement  in  line  with  the increasing  public  needs  for  both  cash  and  non-cash  payment  instruments.

          The  Central  Bank  of  Myanmar  has  implemented  to  improve  non-cash  payment  system  by  using  educational  channel  to  public, business, associations  through  banks  and  media  etc.

Implementation  of  Banking  Network  and  Auto  Clearing  System

          Implementation of  Banking  Network  to  be  efficient, fast, and safe  for  national payment  has  commenced  in  2007  and  basic  infrastructure has  been  built up among Central Bank and commercial Banks.

        The  current  manual   clearing  system  prompts  banks  to  carry out  final settlement ( net settlement ) resulting  in  accumulated  liquidity at the  end  of  the  day  thus  arising  bank's  debit/credit balance.  Inorder to maintain  a smooth  payment system,  the  Central Bank of  Myanmar  has  so  far  been  responsible  for covering  prompt  payment settlement and  any  lack  of  fund  suffered  by  banks  failing  to  settle  their  clearing  by  providing of  intra - day credit  facility  but  it  could  not  be  spare  out  the  whole  country. For those  reasons, the  Central  Bank  of  Myanmar  has being implemented to  upgrade  present  manual  clearing  system  to  Auto  Clearing  System  throughout  Central  Bank  Clearing Center.

          Within  the  Current  Clearing  System, inter-bank  credit  transfer process, has  so  far adopted  a  paper  based  system  by  using  paper  credit  note.  Realizing  the  lack  of  efficiency  from  the  viewpoint  of  banks  operation,  the  Central  Bank  of  Myanmar  will  implement  to  transmit  transaction  data  in  an  electronic  format  without  having  to send credit  notes  physically  to  the  organizer.

Development  of  Payment  Instruments

          In  order  to  reduce  the  currency  in  circulation within  the  country  and difficulty encountered among the public  by  handling  of big  amount  of currency, the  Central  Bank  of  Myanmar  has  launched  a  new payment  instrument  of  certified  cheque  to  be  confident  in  payment  transaction  by  public.

Legal  Aspects  of  Payment  System

          The  Central  Bank  of  Myanmar  Law,  and  Law  &  Regulation  for  Financial  Institutions  are  legal  basis  for  operation  of  payment  system  and  anti-money laundering law  as  well.

          The regulation  is  designed to safe , smooth  and  efficient  payment  settlement  and  fund  transfer  (  remittance  transfer  process) as  well  as  to  protect  the  interest  of  all parties  involved  in  the  transfer.  Remittance  services  are  subject  to  Central  Bank  Oversight.


Activities on Development of Payment System

          The Central Bank of Myanmar has laid down the policies for developing an efficient, fast, safe and reliable national payment system as its main responsibility. In the area of cash payment system, the policies covered three principal aspects, including fulfilling public needs for currency, ensuring that bank notes are fit for circulation, and taking preventive and repressive measures against the circulation of counterfeit currency. In the area of non-cash payment system, the policies are focused on minimizing risks and improving efficiency of payment system.

          The Central Bank of Myanmar has planned to upgrade the present manual clearing system to Auto Clearing System and to implement the Banking Network for Electronic Fund Transfer (EFT) and reporting system among the financial institutions since 2007.

          The Central bank of Myanmar has launched an electronic data transfer and has  implemented Banking Network for Electronic Fund Transfer (EFT) and reporting system among the financial institutions in 2011. In order to accelerate the momentum of payment system development in Myanmar, the Payment System Upgrading Committee was organized on October 12, 2010, so as to study and explore the efficient, appropriate and sustainable domestic and international payment systems, new means of payment instruments and to follow up the international best practice of the payment system.

          In order to lessen the handling of currency notes, the Central Bank of Myanmar encourage to issue debit card and ATMs among the financial institutions. Later on these network will be linked to ASEAN payment gateway.

Myanmar Payment Union was organized by state owned and private banks in 2011. The purpose of MPU is to provide the ATM and POS switching services among the banks. There is  a road map for card issuing and acquiring process. MPU cards have already been issued in September 14, 2012. As a result, all bank card holders can withdrawal and check their balance and remittance their fund at any ATM among the banks. MPU will be made the settlement process.





Weighted-average (WA) Market Exchange Rate

MMK per USD - Date: 22nd May 2020

Reference Exchange rate
(WA market rate)
Interbank Market WA rate 1,406.4
Bank-customer Market WA rate


  • CBM announces daily Reference Exchange Rate every working day at 4:00 PM, based on deals between 9:00 AM and 3:00 PM.
  • Methodology on determination of Reference Exchange Rate is available here

MMK Exchange rate for other currencies are available here (

Interest Rate(%)
Central Bank Rate 7%pa
Minimum Bank Deposit Rate 5%pa

Maximum Bank Lending Rate (Secured)

Maximum Bank Lending Rate (Unsecured)




Economic Indicators (%)
GDP Growth Rate
2018-2019 First 6 Months
(October to March)
6.30 %
Annual Rate of Inflation
(March 2020)
9.10 %
Year on Year Inflation
(March  2020)
6.61 %

     Source : Ministry of Planning and Finance