T24-07-16-1

Thailand to reopen special temporary border checkpoint Prachuap Khiri Khan on Thai-Myanmar border on October 1

Traders say the Thai-Myanmar special temporary border checkpoint at Prachuap Khiri Khan will be reopened on October 1. Myeik District, Tanintharyi Region The Thai side is planning to reopen the Sin Khun border gate in Prachuap Khiri Khan province, which trades with Mawtaung border in Tanintharyi Township, after the end of this month. Sources in Thailand say the trade-restricted gateway will be reopened due to the COVID-19 epidemic.

Currently, seafood can only be shipped after making ice cubes according to the traders. They cannot export frozen or fresh seafood. The economy is in a slump due to the epidemic and political situations. The Thai side is monitoring the situation in Myanmar and is reportedly planning to reopen the border gate as the rate of infection is declining, said a Mawtaung-Sinkhun border trader. Border crossings at the Mawtaung-Sinkhun checkpoint have been frequently closed due to illnesses on the Thai side.

The Thongkha-Mawtaung section of the road has been upgraded to boost border trade through the Mawtaung-Singun gate. However, border trade has not been as strong as expected, and car traffic has been low. Mawtaung Road will be important if trade recovers. It is only a few hours drive from Bangkok, Thailand, so the Mawtaung-Sinkhun border gate is very important for trade, said an official from the Myeik District Chamber of Commerce and Industry. Thailand will allow only those who have been vaccinated with the COVID-19 vaccine to enter and leave the border gates, and plans are afoot to open them gradually. From January 1, 2022, tourists will be allowed to enter from 13 border districts of Thailand, and plans are afoot to visit 43 districts, according to Thai media reports.                      

Source: Daily Eleven

CBM sells $15 mln on 27 September

The Central Bank of Myanmar (CBM) has announced that they have sold US$15 million on 27 September 2021, at an auction market rate, totalling sales of US$ 48 million in September five times. About $15 million was sold at an auction exchange rate of K1,755 per US dollar. The CBM report sold $15 million on 13 and 20 September, $8 million on 15 September and $10 million on 22 September.

With the rising US dollar exchange rate, the CBM has been constantly selling the US dollar at an auction exchange rate since 12 May. The bank has also sold about $28 million in total in August seven times, according to figures released from the CBM. This CBM’s move is aimed at governing the market volatility and strengthening the local currency value. Rules and directives have been set out for the CBM’s auctions.

Following such rules and directives, the CBM is trading the foreign currency with three state-owned banks, 19 local private banks and 13 foreign banks, which are holding authorized dealer-AD licences. The CBM sold $6.8 million in February 2021, a foreign exchange auction, but did not sell in March.The CBM sold $12 million in April, $24 million in May, $12 million in June, $39 million in July and $28 million in August.

Source: The Global New Light of Myanmar