US dollar exchange rate against Kyat rises to 1,400

US dollar exchange rate against Kyat rises to 1,400

State media reported that the Central Bank of Myanmar (CBM) sold USD 3 million from the state’s foreign reserves on 14 December, making the US dollar reach MMK 1,400 on December 15th in the local forex market. Coupled with the vaccine development a
Myanmar Kyats

Kyat begins new year high

After a long season of inflation, the Myanmar kyat ended 2019 at its highest level for the year. The currency strengthened to 1479 kyat per one US dollar after spending most of the year in the mid 1500s. A Myanmar Times analysis attributes the bump t

Myanmar legalizes foreign remittances

Independent cash remittance services can now receive official licenses to transfer money between Myanmar and other countries. The Central Bank of Myanmar will issue the licenses mainly to overseas employment agencies. Myanmar people have been able to

Inflation reaches 8 percent

Myanmar’s inflation levels reached 8.53 percent in August, up from 6.94 percent at the beginning of the year, according to Myanmar’s Central Statistical Organisation. According to official figures, the average inflation rate for the previ