Statement Released on Cooperation with Law Enforcement Organizations for Taking Action against Currency Manipulators Spreading Fabricated News to Cause High Exchange Rates

The Central Bank of Myanmar (CBM) issued a statement on 15 March that it is cooperating with the Law Enforcement Organizations to take harsh legal action under the law against the currency manipulators/instigators who are spreading fabricated news on social media platforms with an intention to cause high currency exchange rates.

At the Online Trading Platform which is under the supervision of the CBM, the dollar transaction rate is K3,375 per dollar between the banks and importers/exporters. With the guidance of the CBM, the currency exchange counters of three private banks: KBZ, AYA and UAB Banks are selling between US$300 and US$500 at K3,100 per dollar as a special plan.

Although foreign currencies are sold under such operations, the instigators who destroy the foreign currency exchange rates release fabricated news to raise the exchange rates through social media platforms such as Facebook pages, groups, Apps and websites.

The people who want to get foreign currency should buy it at the currency exchange counters selling under a special plan and should not believe the information and statements circulated by currency manipulators. Moreover, people can also visit News & Announcements at https://www.cbm.gov.mm/ of CBM to observe the daily Online Trading Platform and trade the currency at the banks and officially authorized exchange counters.

Source: GNLM (16-3-2024)

  • At the Online Trading Platform which is under the supervision of the CBM, the dollar transaction rate is K3,375 per dollar between the banks and importers/exporters.
  • The currency exchange counters of three private banks: KBZ, AYA and UAB Banks are selling between US$300 and $500 at K3,100 per dollar as a special plan.
  • The people who want to get foreign currency should buy it at the currency exchange counters selling under a special plan and should not believe the information and statements circulated by currency manipulators. Moreover, people can also visit News & Announcements at https://www.cbm.gov.mm/ of CBM to observe the daily Online Trading Platform and trade the currency at the banks and officially authorized exchange counters.
engdate: 
Monday, March 18, 2024 - 08:45
month: 
March, 2024