Myanmar’s Kyat Gains Most in Asia as Democracy Takes Root

The ringgit’s run as Asia’s top currency didn’t last last long. It’s been overtaken by Myanmar’s kyat, long a laggard, as the region’s best performer this year. Myanmar is emerging from decades of isolation and military rule. Saktiandi Supaat, head of foreign-exchange research at Malayan Banking Bhd. in Singapore, says the kyat has benefited from […]

Exchange-rate roulette

Myanmar’s currency exchange problems are the talk of the town as the black-market rate for US dollars is set to soar further. The current crisis, which has engulfed banks, money changers and importers over the past four months, is largely the result of misguided central bank policies and mixed messages, according to international… But some […]

Foreign exchange gap widens

The official reference rate for dollar-kyat exchange maintained by the Central Bank of Myanmar and the rate charged by unofficial moneylenders are increasingly diverging. While the Central Bank’s reference figure has sat at K1027 per dollar since the end of February, at many informal traders the kyat has depreciated to around K1075 per dollar. Divergent […]