CBM permits trading of dollar swaps, says local banks reason for kyat drop

The Central Bank of Myanmar (CBM) will this week launch a new currency swap facility in efforts to stabilise the value of the Myanmar kyat, U Bo Bo Nge, deputy governor of CBM, told The Myanmar Times on August 19. The move follows a 6 percent deprecation in the value of the Myanmar kyat versus […]

Concern among traders mounts as dollar continues rise against kyat

Local traders who import goods are concerned about the recent spike in the value of US dollar versus the Myanmar kyat. The exchange rate, which recently rose above K1,400, was fixed by the Central Bank of Myanmar (CBM) at K1,399 yesterday. The last time the dollar reached similar levels against the kyat was in 2016. […]