Mawlamyine, August (27)
Due to the regime’s restrictions on imports and the dollar exchange rate, the price of the dollar and the baht rose again to record highs on August 26, businessmen told Than Lwin Times.
The Central Bank of the military council has set the dollar exchange rate at 2,100 kyats, but in the open market, the price has risen to a record high of over 3,100 kyats per dollar.
Similarly, the price of the baht rose to a record high of 89 kyats per baht on August 26.
A businessman said the price of the baht has increased as a result of the decline in Myanmar’s exports to Thailand, the high demand for Thai baht, and the rising dollar exchange rate.
The regime’s inability to sell enough dollars and the central bank’s instructions to exporters to submit a list of dollar purchases from private banks also pushed the prices of dollars.
On the other hand, with the rising dollar price, the price of pure gold rose to more than 28,000,000 kyats per tical.
Under the NLD government, one dollar was worth about 1,300 Myanmar kyats, while the baht price was only about 40 kyats.
News – Than Lwin Times