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10 Dollars Foreign Exchange Certificate
| Issuer | Central Bank of Myanmar |
|---|---|
| Year | 1993 |
| Type | Log in to see details |
| Value | Log in to see details |
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| Composition | Log in to see details |
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| Reference(s) | P#FX3 |
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|---|---|
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| Reverse description | The reverse is printed entirely in green on a cream ground with radiating guilloche rosettes flanking a central text panel. The issuer name and certificate title are set in bold letterpress at top, followed by regulations in Burmese script and an English disclaimer text. Denomination numerals TEN and 10 appear in large intaglio-style figures at left and right. |
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| Protection type | Security thread |
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| Comments |
Myanmar's Foreign Exchange Certificates were introduced in 1993 as a mechanism to capture hard currency from tourists and businesses while keeping US dollars out of the parallel market — which was, at the time, offering exchange rates dramatically more favorable than the official rate. The FECs were denominated in dollars but issued by the Central Bank, creating a proxy currency that foreigners were required to obtain upon entry.
In practice, the system failed to suppress the black market and was widely resented. FECs were eventually abolished in 2003 when the government moved toward limited exchange rate reform.