Rumours on Currency Exchange Rate: No plan to change current rate of 2,100 kyats

Rumours have been spread on social media that foreign currency flow from Myanmar have not been accepted at some foreign banks.

Likewise, there were some posts on social media that said the Central Bank of Myanmar has set the currency exchange rate at 2,500 kyats per dollar instead of the current exchange rate 2,100 kyat.

Concerning this issue, Leader of the Information Team of the State Administration Council Maj-Gen Zaw Min Tun made explanation on Friday.

Leader, SAC Information Team , Maj-Gen Zaw Min Tun said “The Central Bank of Myanmar has set the currency exchange rate at 2,100 kyat per dollar. There is no plan to change the current exchange rate. For handling of currency flow from Myanmar at the foreign banks, the process has been operating as usual. There have been many acts that intend to harm the currency flow in Myanmar. There was the intentional acts to collapse the banking system, and also to the currency circulation system. So, I’d like to urged the people and entrepreneurs not to believe this kind of rumours.”

The Maj-Gen reiterated that any enquiry can be made directly to the Central Bank of Myanmar, and people are advised not to believe the rumours.