The junta-controlled Central Bank of Myanmar announced, in a statement on 23 July, that it will start issuing 20,000 kyat banknotes in limited numbers on 30 July.

According to the statement: “The banknote will be issued in limited numbers and will only be given out in exchange for the same value in various old types of banknote that are no longer suitable for circulation. Initially old banknotes will be exchanged for [the new 20,000 kyat banknotes] at the Yangon and Mandalay branches of the Central Bank of Myanmar.

The new 20,000 kyat banknotes will measure 15cm by 7 cm and will be mainly light green. At the top on the front side, it says: “CENTRAL BANK OF MYANMAR”. In the middle of the reverse side, there is a picture of the Yadana White Elephant drawn in a traditional Burmese style with the note’s value, 20,000 kyat, printed in Burmese in the bottom right-hand corner.

The Central Bank of Myanmar statement said that the new banknote is being issued to commemorate the completion of the Maravijaya Buddha Image “which was built to show the brightness of Theravada Buddhism firmly shining in Myanmar, and will make Myanmar a focal point of Theravada Buddhism and bring peace to the country and the world. It also celebrates the first birthday of the white elephant, “Rattha Nandaka,” born on 23 July 2022.”