Banks Reminded to Accept Foreign Currency in ‘All’ Conditions

RANGOON — The Central Bank of Myanmar is encouraging patrons to lodge complaints if they have been turned away by banks for trying to exchange US dollars that are not in mint condition, according to an official from the Foreign Exchange Management Department. Until recently, currency exchange points would only accept US bank notes if […]

Myanmar central bank mulls new move to stem kyat fall

The Central Bank of Myanmar is stepping up its efforts to discourage the domestic use of US dollar, with the plan to illegalise dollar-denominated transactions. According to Win Thaw, deputy director-general with the foreign currency management department of the CBM, the directive demanding all local transactions completed in Myanmar kyat would be issued by the […]