Public Notification: Action to be taken to foreign currency dealers online: CBM

The Central Bank of Myanmar on August 27th issuend a public notification that effective action will be taken to those who illegally engaged in foreign currency exchange service via online according to the Foreign Currency Management Law and rules.

The announcement stated that the Central Bank is making discussion with the banks and fuel entrepreneurs for easy access of foreign currency for the fuel exporters.

Moreover, regulations have been made in cooperation with other related ministries that are mainly providing support for the country’s economy.

The Central Bank requested not to trust the illegal foreign currency dealers online and those manipulating the increase of currency price.