The Myanmar Kyat reached record highs of 1,730:1 against the US dollar on Friday, according to DVB.
Speculators turned increasingly bearish on Myanmar's creaky currency after news broke that the Central Bank of Myanmar (CBM) would begin printing money with the help of Russia and Belarus, promoting fears of inflation.
Rumours that the CBM was about to remove 5,000 and 10,000 Kyat notes from circulation were denied by the junta.