Kyaw Kyaw Maung, the governor of the Central Bank of Myanmar, was reappointed to the position in 2013 by former president Thein Sein, after previously serving under Burma’s former military…
Lenders say they have been forced to turn to unlicensed brokers for scarce dollars to keep the wheels of trade turning.
As the Burmese kyat loses value, more and more customers have been withdrawing their savings.
This week in business; the wage war continues as workers rally and factories threaten closure, ‘New Rangoon’ property goes ahead and Henekin taps into Burma.
Burmese finance analysts have predicted that the US dollar will continue to strengthen against the kyat until the end of the year, state media reports.
State-owned Central Bank of Myanmar on 17 June announced that it will begin the unrestricted sale of foreign currencies to fuel and edible oil importers.