The Myanmar kyat has been depreciating against the US dollar in recent days. Starting from the middle of January, the dollar to kyat interbank exchange rate in Myanmar’s currency market dropped to Ks1,322. The exchange rate fluctuated around Ks1,327 from January to April, and the highest rate was recorded at Ks1,331 during that period. The rate went up above Ks1,340 per dollar in May, and it reached above Ks1,350 in mid-June, hitting the highest point of Ks1,405 per dollar on 29 June.  According to U Than Lwin, a senior consultant at the Kanbawza bank, the increase in the dollar exchange rate might be attributed to the global political and economic climate. There is no significant rise in border trade, and the demand for US dollars has decreased.

Source: Global New Light of Myanmar

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