On December 6, the world dollar index was around 96 points and the exchange rate was around 1,788 kyats per dollar, but it was selling at around 1,860 kyats per dollar, according to foreign currency traders. Although the exchange rate is around 1,700 kyats per dollar, most exchange counters are selling around 1,900 kyats per dollar.
Selling foreign currency; Purchasing The exchange rate fell by about 170 kyats per dollar after the central bank issued a directive to set the exchange rate within 0.5% of the central bank. The market opened at around 1,780 kyats per dollar on the morning of November 10.
If this requirement is exceeded, the Foreign Exchange Management Law; Action will be taken in accordance with foreign exchange management regulations. The directive will take effect on November 10, 2021.
Other foreign exchange rates on December 6, 2021 in the domestic market are Euro 2020 kyats; S $ 1,320; Malaysian ringgit 420 kyats; Thai baht 54.5 kyats Chinese yuan 290 kyats; 16 Japanese Yen
Selling foreign currency; Purchasing It is being sold at around 1,900 US dollars at foreign exchange counters after the central bank issued a directive to set the exchange rate within 0.5% of the central bank reference exchange rate.
The Central Bank of Myanmar’s foreign exchange operations include short-term exchange rate fluctuations; Comparing the exchange rate of Myanmar kyat with one US dollar against the previous day reference rate to reduce the depreciation; By comparison, the depreciation rate of the kyat is higher than the regulatory threshold, and the bidding for foreign currency (US dollar) is higher than the threshold.
The Central Bank of the Republic of the Union of Myanmar has amended its authority under Section 49 sub-section (a) of the Foreign Exchange Management Law and amended Article 35 of the Foreign Exchange Management Rule with the approval of the Government of the Republic of the Union of Myanmar.
On December 6, the world gold price was around $ 1,780, and the local gold price reached around 1,769,000 kyats, according to gold traders.