Exemptions for mandatory exchange of foreign currency into Myanmar Kyat

On April 3, the Central Bank of Myanmar announced the mandatory exchange of foreign currency into Myanmar Kyats within one working day of its receipt, however on April 20, Companies that fall under one of the categories below are exempted from this recent policy.

  • FDI businesses holding a permit from the MIC.
  • Direct investment businesses located in SEZs.
  • Diplomats, family members of foreign embassy personnel.
  • Employees of the United Nations and Myanmar citizens holding laissez-passer.
  • Foreign employees of development agencies carrying out aid activities in Myanmar.
  • Foreign employees with diplomatic status from international organizations and international NGOs.
  • Myanmar state-owned airlines or airlines owned by Myanmar citizens.

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