Exchange Myanmar KyatMyanmar Kyat exchange
Don't sweat' about Myanmar Kyat Exchange rate: external specialist
Myanmar government's overseas adviser said the Kyat refugees should not be worried about Myanmar's undermining. Sean Turnell, in a call-out on Facebook, said there were fears about the Kyat easing against the US dollar - currently at around 1,325 Kyat against the US dollar - but the changes were easy to explain.
"There is a disturbing debate about the exchange rates of the Kyat at the present time. While these fears are self-evident given Myanmar's currency past, I believe they are largely unjustified. A large part of the Kyat exchange rates move against the US dollars. However, this is by no means unprecedented in Myanmar.
In this respect, the fall in the US Kyat Prize is not so drastic. Correctly considered (i.e. after adjustment for inflation), the Kyat is still far above the historic low. In any case, there is much to say about a lower exchange rates as part of a broader history of evolution.
Kyat tends to go down this season. After all, the flexibility of pricing (including that of one currency) is common and essential for a free enterprise. Indeed, floating exchange can be particularly useful in safeguarding the interests of growers and others in the face of rising raw material costs.
But like Myanmar, we are an important land of agriculture and raw materials. A reason for this achievement is the $A flexibility that is moving up and down with raw material costs - and thus (once these costs are turned back into $A) protecting our growers, merchants.... our whole economies. Australia has been rescued again and again by the $A!
It' safe now, as always.
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