Dollar to KyatThe dollar to Kyat
The Kyat will appreciate strongly against the dollar during the post-Thingyan era
After the Thingyan Festival, Kyat is likely to appreciate further against the dollar, analysts said. Besides the devaluation of the US dollar on the world automotive markets, the volume of imports of cars on the automotive markets has decreased in line with the new automotive policies. There is also a low dollar requirement due to a drop in transfers from exporters, as business people were importing fewer goods this year than in prior years due to reduced holidays.
After the US dollar index fell below 90 pips on April 9, the US dollar/kyat cross fell to 1,324 Ks on Myanmar's foreign currency megastore. In the last three of this year, the share has fallen by more than Ts20. The dollar sales were Ts1,324 last night, while according to the counter the purchase was Ts1,319.
Meanwhile, the Central Bank of Myanmar has fixed the currency at Ts1.330 per dollar.
Upvaluation of Kyat against the dollar likely to remain high
As the US dollar index fell below 90, a three-year low, the US dollar/Kyat pair fell to 1,330 Ks on Myanmar's foreign currency megastar. In January 2017, the index peaked at 103.82 and started to decline from March of this year.
At the beginning of January 2017, the dollar-cyat exchangerate stood at 1,354 Ts. In the last three January 2018 week, the currency still fell by more than Ks20. On January 25, 2018, the dollar sales value was Ts1,327, while the purchase value according to the currency exchanger was Ts1,330.
Meanwhile, the Central Bank of Myanmar has fixed the currency at Ts1.340 per dollar. Besides the devaluation of the US dollar on the world automotive markets, car import is decelerating in line with the new automotive policies, as purchasers are watching the markets. US dollar is also declining, as some of our investment has turned to bullion, experts said.