Real Estate Deemed Safe Haven as Kyat Tumbles

The free-fall of the local currency Kyat in recent months is having an impact on the real estate market as buyers keep putting their money into properties to hedge inflation, realtors say. Kyat has fallen drastically since September last year – when it was trading around K970 for a US dollar – and was hovering […]

Central Bank Bites Down on Dollar Use, But Does it Have Teeth

The Central Bank of Myanmar (CBM) has recently issued a notice that requires businesses and government agencies to use Kyat for payments inside Myanmar, even for foreign investors. This move is intended to raise the value of the Kyat by restricting foreign currency use for internal payments, according to a CBM official. The currency has […]

Dollar reaches Ks1,171

The dollar has now reached Ks1,171 on the unofficial markets, sources report. The rate of the dollar increased on June 2, leaping from Ks1,152 on June 3 to the current value. The Central Bank increased its reference rate to Ks1,105 from Ks1,097. It installed a limiter on May 27 that restricted exchanges to US$5,000 per […]

Dollar rise increases budget woes

Myanmar will have to sell treasury bonds again due to the consecutive budget deficits, according to the Ministry of Finance. The government is looking to take loans from home and abroad to solve the deficit. All the regional and state administrations face similar problems as the union government struggles to devolve investment. Maung Maung Win, […]

Kyat steadily declines against other currencies

Myanmar kyat’s weakening against major foreign currencies has accelerated during President Thein Sein’s time in office. The currency rate has slided to K 1,070 and K 1,075 per one US compared to K 824 per one US dollar at the end of 2011 and early 2012. In November in 2012, the exchange rate was K […]