Bank of Myanmar will keep the dollar rate confidential
On 8/25/18 CNN announced that the Bank of Myanmar will keep the dollar exchange rate confidential. The dollar exchange rate monitor in private banks is currently blank with nothing on display.
There are also rumors circulating the Bank of Myanmar decided to simultaneously send loans of 300-400 million USD to private banks and keep the exchange rate confidential in order to halt the decline of the dollar.
Nonetheless, currency exchange locations in the city continue to display the exchange rate allowing customers to exchange dollars to kyat and kyat to dollar. As of August 28 the exchange rate has fallen to 1 USD = 1530 MMK.
Propre has staff based locally and in Yangon, the central city of Myanmar. We share Myanmar lifestyle related information received from our local staff. We hope to share unique news about Myanmar which can not be obtained from the general news.