chinese-border-in-shan-state

Myanmar-Thai border trade drops $76 mln in mini-budget year

Trade volume between Myanmar and Thailand in the 2021 minibudget year (October-March) hit a total of US$72.67 million in total, according to the Ministry of Commerce. Compared to the same period of the 2020-2021FY, this minibudget year’s figures declined by $76 million. The bilateral border trade hit $148.78 million last year.

The country’s export to Thailand reached $32.19 million, while imports hit $40.48 million, Ministry of Commerce statistics show. The county mainly conducts border trade with Thailand through seven land borders – Tachilek, Myawady, Kawthoung, Myeik, Hteekhee, Mawtaung and Meisei. From 1 October 2021 to 8 October 2022, Myawady border point topped the trade with $55.9 million, followed by Kawthoung with $7.99 million and Myeik with $5.9 million.

Among three border trade checkpoints along the border between Myanmar and Thailand, the Myawady-Mae Sot route is the most important, carrying around 70 per cent of trade between the countries. Myanmar’s export to Thailand were primarily agriculture and livestock products, and imports from Thailand were mainly non-alcoholic beverages, fabric and yarn, motorcycles and related parts, and construction materials. Thailand is Myanmar’s secondlargest trade partner and third-largest foreign investor. Meanwhile, Myanmar is conducting border trade with neighbouring India, China and Bangladesh via a total of 16 border checkpoints.

Source: The Global New Light of Myanmar

13919-How-Do-First-Price-and-Second-Price-Auctions-Work-in-Online-Advertising

On October 22, the central bank sold $ 30 million at a foreign exchange auction, with an average exchange rate of 1,800 kyat

On October 22, 2021, the central bank sold $ 30 million at a foreign exchange auction, with an average exchange rate of 1,800 kyats. On October 18, the Central Bank of Myanmar sold a record $ 50 million a day at a foreign exchange auction, with an average exchange rate of 1,820 kyat. The Central Bank of Myanmar has sold up to $ 264.8 million in foreign exchange auctions from February 1 to October 22, 2021, according to data released by the Central Bank of Myanmar. The central bank sold $ 6.8 million in February 2021 at a foreign exchange auction, but not in March. $ 12 million in April; $ 24 million in May; $ 12 million in June; $ 39 million in July; 28 million in August; It sold $ 63 million in September.

Rules for Central Bank Competitive Auction Instructions have been set out and these rules and regulations are in place. In accordance with the instructions, the foreign currency licensed (AD) banks involved in the foreign currency auction are: three state-owned banks; Buying foreign currency with 19 local private banks and 13 foreign bank branches; And sales. The Central Bank of Myanmar’s foreign exchange operations include short-term exchange rate fluctuations; Comparing the exchange rate of Myanmar kyat with one US dollar to the previous day reference exchange rate to reduce depreciation; By comparison, the percentage devaluation of the Myanmar kyat exceeds the stipulated level (opening a competitive auction for the sale of US dollars, the percentage of appreciation of the Myanmar kyat exceeds the stipulated conditions).

Comparing the average Myanmar kyat to the US dollar exchange rate; By comparison, the percentage increase in the value of the kyat against the conditions set by the government has led to the opening of competitive bidding for foreign currency (dollars); To buy foreign currency submitted by AD banks between the highest exchange rate and the lowest exchange rate announced by the Central Bank in the competitive auction. Submissions for sale are purchased and sold by the central bank using the Refinitiv (formerly Thomson Reuters) auction system. For sale Short-term rise in foreign exchange rates; To reduce overcrowding. Opening a tender to buy foreign currency (dollars) if it exceeds the limit; 

To buy foreign currency submitted by AD banks between the highest exchange rate and the lowest exchange rate announced by the Central Bank in the competitive auction. Submissions for sale are purchased and sold by the central bank using the Refinitiv (formerly Thomson Reuters) auction system. For sale Short-term rise in foreign exchange rates; To reduce overcrowding. Opening a competitive auction to buy foreign currency (dollars) in excess of the limit; To buy foreign currency submitted by AD banks between the highest exchange rate and the lowest exchange rate announced by the Central Bank in the competitive auction. Submissions for sale are purchased and sold by the central bank using Refinitiv (formerly Thomson Reuters) auction system. For sale Short-term rise in foreign exchange rates; To reduce overcrowding. Rise in foreign exchange rate; To reduce overcrowding. Rise in foreign exchange rate; To reduce overcrowding.

Source: Daily Eleven