US Dollar Exchange Rate Stabilizes after CBM Declares for Free Online Trading

The US dollar exchange rate has gradually stabilized due to free trading at market price after the announcement of the Central Bank of Myanmar (CBM) on 5 December for Authorized Dealer (AD) licensed banks to trade freely in the financial market.

It stated that CBM would not fix the exchange rate for online trading by AD-licensed banks, while sellers and buyers would be free to trade at the market rate. After AD-licensed banks traded US dollars at the market rate, it stabilized around K 3500 a dollar starting from 6 December, it is reported.

Source: Global New Light of Myanmar Newspaper (27-12-2023)

 

  • The US dollar exchange rate has gradually stabilized due to free trading at market price after the announcement of the Central Bank of Myanmar (CBM) for Authorized Dealer (AD) licensed banks to trade freely in the financial market.
engdate: 
Wednesday, December 27, 2023 - 16:15
month: 
December, 2023