Gold transactions still cannot be fixed on the CBM reference exchange rate: YGEA

Gold transactions still cannot be fixed on the Central Bank of Myanmar’s reference exchange rate amid the financial difficulty, said U Myo Myint, the Yangon Region Gold Entrepreneurs Association (YGEA) chair.According to the provisions stipulated in Sections 11, 12 and 13 of the Foreign Exchange Management Law, the foreign exchange earned by locals in Myanmar […]

Japanese demand for local gold trinkets on the rise

The Japanese penchant for certain gold and jewellery motifs with cultural significance have seen some US$33,000 worth of such items exported to Japan in the month of August to-date. According to the Yangon Region Gold Entrepreneurs Association chair U Myo Myint, the jewellery pieces, 46 in total, included gemstones embedded in gold. “This is the […]

Myanmar gold price soars in August

Domestic gold prices have risen by up to K50,000 over the past three weeks. Buyers clocked that the price of gold in Myanmar was lower than in the international market, due to currency volatility, and rushed to take advantage of the opportunity, said traders. The kyat has depreciated by 24 percent this year versus the […]