Coordination Meeting : Exchange rate stability & advance payments for imports

A coordination meeting on stabilizing foreign exchange rates and improving procedures for advance payments for imports was held at the Central Bank of Myanmar on Friday. Central Bank of Myanmar Governor Dr. Khin Naing Oo highlighted the importance of monetary and foreign exchange stability in supporting national economic development.

She stressed the need for cooperation among government agencies, banks and business owners to maintain financial stability. She also urged all to follow existing laws, rules and regulations governing foreign exchange transactions and to ensure smooth payment procedures for import businesses through advance payments.

Participants discussed current foreign exchange market conditions, export and import activities, advance payment procedures and ways to make transactions easier for businesses and banks. They also proposed developing Standard Operating Procedures to ensure clear and efficient implementation of import payment processes.