Recently, in the domestic and foreign exchange markets of Myanmar, the exchange rate of US dollar against Myanmar Kykel remains stable. Foreign exchange exchange merchants said that after the exchange rate is stable, market transactions gradually recover. In order to alleviate the soaring situation of fuel and foreign exchange, the Myanmar Central Bank has invested hundreds of millions of dollars in the market many times.
htmlOn October 27, on the foreign exchange black market, the buying price of USD against Myanmar Kyrgyzs was 2970 Myanmar Kyrgyzs, and the selling price was 1 USD 3020 Myanmar Kyrgyzs. On October 21, Myanmar was blacklisted by the Anti-Money Laundering Financial Action Task Force (FATF), and the US dollar exchange rate broke a record high on the foreign exchange black market. After
, the Myanmar Central Bank issued a document saying that it will hold people accountable for disrupting the market economy of , spread rumors, speculate on foreign exchange, and illegally engage in foreign exchange transactions on the Internet. At present, the exchange rate of the exchange rate of the foreign exchange price of 1 USD is only 2,100 Myanmar Kyats, but the exchange institutions and residents are trading on their own according to the exchange rate in the outside market.
Since February 1, 2021, gold and US dollar have become the best choice to avoid risks. For some time, gold and US dollar trading in Myanmar has been booming. Compared with Myanmar Kyat, the US dollar and gold can meet people's requirements for asset preservation. Professionals remind that when you don’t understand the market, do not rashly follow others to buy and hoard, so as not to cause losses to yourself.
