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The black market exchange rates (USD to MMK) decrease during the peak of the tourist season in Burma (December to January). During the 2003 Myanmar banking crisis, the kyat's black market rate appreciated when distrust in kyat-deposited banks increased demand for kyat banknotes. [4] At its peak, the kyat traded for as high as Ks. 850/- per USD. [5]
Exchange rates: kyats per US dollar – 1,205 (2008 est.), 1,296 (2007), 1,280 (2006), 5.82 (2005), 5.7459 (2004), 6.0764 (2003) note: unofficial exchange rates ranged in 2004 from 815 kyat/US dollar to nearly 970 kyat/US dollar, and by year end 2005, the unofficial exchange rate was 1,075 kyat/US dollar; data shown for 2003–05 are official ...
rate to US$ Date Gross Net (US$) Net ... Myanmar: kyat 350000 kyat 310,000 0.0005 [78] 2023-10 310 290 [79] 1,355 Nepal:
In August, the Central Bank of Myanmar tried tethering the kyat 0.8% either side of its reference rate against the dollar, but gave up on Sept. 10 as pressure on the exchange rate mounted.
As the kyat was indispensable for everyday transactions for the people in Myanmar, there was a steady demand for it even before the crisis. With the crisis making kyat-denominated bank deposits overly risky and virtually worthless (due to frozen accounts [22] and illiquidity of the banks), demand for kyat increased and supply of kyat decreased ...
Myanmar (Burma) Currency: Myanmar kyat MMK ... www.cbm.gov.mm: The Central Bank of Myanmar ... the Central Bank rate has been increased from 10 percent to 12 percent ...
Examples of metrication in Myanmar include weather forecasts by the Department of Meteorology and Hydrology being given with temperatures in Celsius. [8] Petrol in Myanmar is sold with prices in Burmese kyat per litre (K/L). [9] [10] Speed limits in Myanmar are given by law in kilometres per hour (km/h). [11] [12]
According to some banking sources, the official exchange rate will be raised and set at 820 kyat per USD. [35] On 2 April 2012, the Central Bank of Myanmar began trading at the new reference exchange rate of 818 kyat to 1 US dollar. [36] In March 2012, a draft foreign investment law emerged, the first in more than 2 decades.