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Myanmar , Thursday 15 October 2026

Myanmar households crippled as currency tumbles to record low

Published on: Tuesday 20 August 2024

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 source: https://finance.yahoo.com/news/myanmar-households-crippled-currency-tumbles-061256016.html

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