Mawlamyine, June (29)
The exchange rate of Thai baht jumbed to roughly 90 THB against USD after the dollar value and gold price surged, the border traders told Than Lwin Times.
The United States imposed sanctions on the junta-controlled Myanmar Foreign Trade Bank (MFTB) and the Myanmar Investment and Commerce Bank (MICB) on June 21, raising the price of gold and the dollar value.
The currency exchange rate reached roughly 3,200 kyats against the dollar, and the price of one tical of pure gold surpassed 3.2 million kyats.
The Thai baht’s value has climbed to about 90 kyats per baht from roughly 83 kyats previously.
There are indications that commodity prices may rise if the Thai baht strengthens, but because transportation is convenient, commodity prices are unlikely to rise much, the traders said.
Prior to the military coup, the Thai baht exchange rate was only around 30 kyats; then, the exchange rate more than doubled after the coup, with fluctuation.
Mon State mainly imports Thai products such as basic food, medicine, cosmetics, consumer goods, raw materials used in construction and commodities through the Myawaddy border.
News – Than Lwin Times
Photo: Social Media