CBM continues raising currency exchange rate

The Central Bank of Myanmar (CBM) has increased its official reference exchange rate from Ks 1,246 to Ks 1,266 per US dollar over the last five days. This week, foreign currency exchange rates at currency exchange booths were set around Ks 1,275 per dollar, despite the official reference rate. The exchange rate of kyats per […]

Prices plummet after new city plans halted

Market prices have collapsed west of Yangon after region officials shelved controversial plans for a massive city expansion in the area. “There are no more buyers,” said U Hla Chit, a broker who had chased opportunity to the area. “The market has totally stopped and farmers are quiet about selling the land, and local brokers […]