Myanmar Business - Myanmar Official Currency to Compete Black Market - The official government rate is fixed at around just six kyat per dollar, while in stark contrast the rate on the black market stands at about 800 per dollar. With Six Kyat you cannot buy even a candy. People widely ignored official currency exchange rate because it is crazy. Now, Myanmar Government is ready to clear complex exchange rate system.
According to AFP, the official rate will now be replaced with a market-determined rate as the first step to unifying the various exchange rates, while allowing room for the central bank to influence the currency’s value.
Myanmar Life believes that this change will be big improvement for Myanmar Economic. Myanmar New Government is moving forward step by step. You can see many changes such as political, economics, press, media, development and etc… Let’s say Cheer!!!