The Central Bank of Myanmar (CBM) will grant official remittance Llicences to authorised money changers within two months, CBM Deputy Governor U Bo Bo Nge told the media on Wednesday. The move is expected to curb illegal remittances and the informal flow of foreign currency into the country under the Hundi, U Bo Bo Nge […]
Central Bank Allows Yen, Yuan Transactions
February 4, 2019 by
The Central Bank of Myanmar on Wednesday announced that it will now allow the Japanese yen and Chinese yuan to be used as a settlement currency for international payments and transfers. The move came after Chinese investors urged the Ministry for Investment and Foreign Economic Relations to reform Myanmar’s foreign currency exchange policies during the […]
Falling kyat may put pressure on foreign debt
September 7, 2018 by
The falling value of the Myanmar kyat versus the US dollar could make repaying external debt harder for the government in the coming fiscal year. In 2018-19, it is expected to repay K877 billion out of the $9 billion Myanmar owes to foreign creditors, according to the budget submitted for the period. That amount may […]
Myanmar airports improve safety
March 12, 2015 by
YANGON, 11 March 2015: Myanmar’s Ministry of Transport says it has upgraded six airports in terms of safety and security. The six airports that have gained new safety equipment are Yangon, Mandalay, Nyaung U, Heho, Thandwe and Dawei. The Global New Light of Myanmar claimed the six airports received safety and security upgrades with the […]
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