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Global dollar price index rises around 93 points and foreign exchange rate is around 1940 kyats per dollar

The global dollar index hit around 92 points on September 15 and the foreign exchange rate in the domestic market was around 1940 kyats per dollar, according to foreign currency traders. The global dollar index, the highest in six months, hit 91.59 points in February. 90.93 points in March; 90.93 points in April; 91.92 points in May; 90.92 points in June; In July, it was around 91.92 points. In January 2021, the lowest and highest monthly exchange rates in the domestic market were 1333-1355 kyats. In February, it was 1340-1475 kyats.

The lowest and highest monthly foreign exchange rates in the domestic market were 1297-1340 kyats in October 2020; In November 1306-1327 kyats; 1326-1405 kyats in December; In January 2021, it was 1333-1355 kyats. In February it was 1340-1475 kyats. On September 15, 2021, the exchange rates of other foreign currencies in the local market were EUR 2,150; S $ 1,380; Malaysian ringgit 425 kyats; Thai Baht 59. On September 15, 2021, the Central Bank of Myanmar sold $ 8 million in a foreign exchange auction, and so far in September it has sold $ 23 million in two installments, with an average exchange rate of 1,750 kyats.

On September 13, the Central Bank of Myanmar sold $ 15 million in a foreign exchange auction. On August 1, 2021, the Central Bank of Myanmar sold another 2.5 million dollars at a foreign exchange auction, with the average exchange rate for the auction being 1,650 kyats per dollar, according to the Central Bank of Myanmar. The Central Bank of Myanmar (CBM) sold another $ 5 million in a foreign exchange auction on August 25, 2021, up to $ 28 million seven times in August, according to data released by the Central Bank of Myanmar. The central bank is responsible for its foreign exchange operations, such as raising the exchange rate in the short term; A rule-based foreign exchange auction is underway to reduce inflation and implement the two-point foreign exchange reserves of the state.

Source: Daily Eleven

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