News Myanmar Currency: A New Myanmar Needs a New (Crypto) Currency
Early efforts by Myanmar’s opposition National Unity Government (NUG) to issue a U.S. dollar-backed cryptocurrency have failed. They should try again, and harder: economic independence would further ...
News Myanmar Currency: Myanmar households crippled as currency tumbles to record low
The Myanmar kyat has been extremely volatile in recent days, plunging to a low of 7,500 to the dollar in the black market last week from 5,000 earlier in the month, according to four foreign exchange traders. The plunge followed reports that the Myanmar junta was printing more kyat to prop up the currency, two traders said. "People are frantically buying (Thai) baht and selling kyat," said a money transfer agent in neighbouring Thailand who asked not to be named.
News Myanmar Currency: Business bad for Bagan’s buggy drivers as pandemic and coup keep tourists away
For 50 years, Maung Maung has been a horse-and-buggy driver in the ancient city of Bagan, ferrying tourists around to its soaring spires and iconic Buddhist pagodas and temples. But tourists have dwindled to a trickle, thanks to the combination of the Covid-19 pandemic that reached Myanmar in March 2020…
News Myanmar Currency: Myanmar’s pro-democracy forces resist with cryptocurrency
YANGON: Myanmar’s National Unity Government, a pro-democracy group, recently announced that it officially endorses domestic distribution of the cryptocurrency Tether in a move to resist Myanmar’s ...
