If you do not get a token, you either have to queue for hours for the few functioning cash dispensing machines outside or go to black-market brokers who charge big commissions.
“It’s now very difficult to operate a business,” said Hnin Hnin, an entrepreneur in her mid-20s who supplies shampoo and bedsheets to high-end hotels. “Traders don’t accept bank transfers now. They want cash. So we need to find the cash.” It is now almost impossible to get hold of U.S. dollars or other overseas currency at regular exchange centres in Yangon, a dozen people told Reuters. Black-market traders will take online transfers in exchange for physical notes in various currencies, they said, but add a commission of up to 10%.
People want to withdraw cash now to buy food and other essentials, said Horsey, and also because they fear the banking system will collapse.The cash crisis is the most immediate sign of much deeper economic problems facing Myanmar, some experts said. Millions are expected to go hungry in the coming months, the United Nations’ World Food Programme said in an analysis published in April.
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