Myanmar's top general told business leaders he knows the street exchange rate for dollars sits way above what the central bank announces, and he's been letting it slide for a bit. Min Aung Hlaing said the market rate hit 4,060 kyat per dollar when it should really be closer to 3,800 or 3,900, and he warned traders against jacking up prices just to make a bank because that screws over regular people buying everyday stuff.
The regime chief also mentioned plans to drop the mandatory conversion rate for exporters from 25 percent down even further within a couple of months. He said the government watches the currency moves daily and won't tolerate speculation that hurts the public, even though officials have been cutting exporters some slack on how much foreign currency they need to hand over to the state.
The regime chief also mentioned plans to drop the mandatory conversion rate for exporters from 25 percent down even further within a couple of months. He said the government watches the currency moves daily and won't tolerate speculation that hurts the public, even though officials have been cutting exporters some slack on how much foreign currency they need to hand over to the state.
