Kyat falls to new low against dollar


People exchange US dollar and Myanmar currency at a black market in Yangon, Myanmar. Photo: EPA

The Myanmar kyat fell further against the dollar Monday, despite government measures to stop its slide Thailand’s The Nation reported on 20 July.

The central bank set the official reference rate at 1,230 kyat to the dollar, a loss in value of some 50 per cent since the official exchange rate was allowed some flexibility in April 2012.

The informal rate at foreign exchange counters in Myanmar is about 1,300 to the dollar, similar to the informal rate in 2007 the report said.

 

More Articles

....