The central bank has announced that it will remove the widening gap between the selling price and the buying price, and some traders say the exchange rate fluctuations will not be affected

The central bank announced on September 11 that it would remove the widening gap between the selling price and the buying price. The sale of foreign currency issued on August 8; Purchasing The Central Bank has issued a directive to set the CBM Reference Rate at the Mid Rate and the Purchase Price and Purchase Price within the range of 0.8%. The directive was canceled. Licensed banks trading foreign currency.

 The Central Bank of Myanmar said in a statement that the holders of foreign exchange licenses have been notified. Dr Soe Tun, a businessman, said the directive would not affect the value of the dollar traded in the market. In the past, when there was a price tag, the actual price on the board and at the counter was different from the price on the board, he said. It says 1,700 on the board, but it can’t be bought. 

Only people you know are buying and selling. It is 2,000 outside. It is also difficult to buy and sell. With this release, it will be easier to buy and sell because Molo is set as freely as before. It has little to do with price fluctuations. There will be more trade. Currently, the price set by the central bank is one in the foreign exchange market and one in the foreign exchange market. According to the prices on September 11, local foreign exchange counters and banks set the price at around US $ 1,746 per dollar, but the actual market price was between US $ 1980 and 2010.

Source: Daily Eleven

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