Despite the fact that it is approximately 1788 kyats per dollar, it is being sold at exchange counters for more than 1860 kyats per dollar. The majority of exchange counters are selling around 1,900 kyats per dollar, despite the fact that the exchange rate is approximately 1,700 kyats per dollar.
transferring money abroad; Purchasing Following the directive from the central bank to set the exchange rate within 0.5 percent of the central bank, the rate of exchange decreased by approximately 170 kyats per dollar. The market opened at around 1,780 kyats for every dollar on the morning of November 10.
The Foreign Exchange Management Law; in the event that this requirement is not met; The regulations governing the management of foreign exchange will be followed. The mandate will produce results on November 10, 2021.
Other unfamiliar trade rates on December 6, 2021 in the homegrown market are Euro 2020 kyats; S $ 1,320; 420 kyats in Malaysian ringgit; Chinese yuan 290 yuan; Thai baht 54.5 kyats; Selling foreign currency for 16 Yen; Purchasing As a result of the central bank’s directive to set the exchange rate within 0.5% of the central bank’s reference exchange rate, it is being sold at around 1,900 US dollars at foreign exchange counters.
Short-term fluctuations in exchange rates are among the foreign exchange operations carried out by the Central Bank of Myanmar. reducing the depreciation by comparing the exchange rate of one Myanmar kyat to one US dollar to the reference rate from the previous day; In contrast, the bidding for foreign currency (US dollars) is higher than the regulatory threshold, and the depreciation rate of the kyat is higher than the threshold.
With the Government of the Republic of the Union of Myanmar’s approval, the Central Bank of the Republic of the Union of Myanmar modified its authority under Section 49 sub-section (a) of the Foreign Exchange Management Law and amended Article 35 of the Foreign Exchange Management Rule.
According to gold traders, on December 6, the global gold price was approximately $1,780, while the local gold price was approximately $1,769,000 kyats.
