Central Bank increases exchange rate to Ks1,330 per US dollar

With an even higher exchange rate for the US dollar in the sheet market, the Central Bank of Myanmar (CBM) increased the rate from Ks1,320 to Ks1,330 per dollar on 13thDecember. The CBM set the exchange rate per dollar at Ks1,308 from 30th November to 2nd December, Ks1,305 on 5thDecember, Ks1,310 on 6th December, Ks1,315 […]

Central Bank issues anti-money laundering guidelines

The Central Bank of Myanmar (CBM) has published guidelines for financial institutions on managing the risks of money laundering and terrorist financing. Guidance on customer due diligence for banks, finance companies and money changers, will also be announced soon, said Daw May Toe Win, director at the Central Bank’s financial institutions regulation and anti-money laundering […]

Central Bank of Myanmar plans first real-time payments system

The Central Bank of Myanmar (CBM) plans to introduce a real-time gross settlement (RTGS) system by the end of 2015. Deputy governor Winston Set Aung says the country’s first ever RTGS will help to reduce the size of the cash economy, as the system will allow transfers between banks to be settled immediately. An unnamed […]

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 […]