Myanmar central bank weakens official fx rate for kyat currency by 13.5%

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Myanmar's central bank weakened its kyat currency from 1,850 to 2,100 per dollar on Monday, according to a statement published in a state newspaper. Myanmar's economy has collapsed since the military seized power last year, halting a decade of reforms, putting pressure on the kyat's value against the doll

Myanmar's central bank weakened its kyat currency from 1,850 to 2,100 per dollar on Monday, according to a statement published in a state newspaper.

Black market rates for the kyat remain 20 per cent to 30 per cent higher than the central bank's new reference rate, according to figures from online groups where the currency is traded unofficially.

 

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