Myanmar Exchange RateBurma Exchange Rate
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Exchange Rate Daily - Myanmar Forum
Travelers to Myanmar, you can review the below links for the current exchange rate in Myanmar. Glad to see Effies is still at the same rate as $! Hello, for your information, you can get Kyat exchange rate on XE.com. Great site, use it all the while for exchange rate for 180 major foreign exchange with the Full Universal Converter for Universal Cr...
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MYANMAR' s Federal Reserve is moving to stabilise the exchange rate
In 2012, Myanmar implemented a manageable floating rate of the country to end the discrepancy between exchange rate levels officially and unofficially. This was the first major step in the semicivilian government's major macroeconomic reforms, which took power a year before, but the gap between informal and formal exchange rate levels began to increase last months as the dollar became tight in the markets.
On Thursday, the exchange rate has dropped from 1,200 kyats to the greenback on Monday to 1,216. The greenback was sold at newsstands around Yangon for 1,230 Kie. FX may be traded within a margin of 0.8 per cent above or below the quoted exchange rate. "Quite honestly, our action is not intended to strengthen the Kyats, but only to help stabilise exchange rate movements in the market," said a high-ranking federal reserve officer, who asked not to be mentioned because he was not empowered to do so.
Welcoming the move by the Federal Reserve, U Htwe, a high-ranking officer of the United Amara Banc, said that further effort was needed to reduce the country's large trading deficits. Myanmar's trading loss increased 88% in the year ended March 31.
In the 2014/15 financial year, Myanmar exported more than $16 billion and more than $11 billion, resulting in an overall shortfall of more than $4.9 billion, according to officials.