Manipulators of Domestic Forex Rate Arrested

The Government emphasizes forging peace and stability and rule of law throughout the nation. Acting on tip-off, security forces carried out to expose and arrest unscrupulous persons driven by extreme greed who manipulated to destabilize domestic foreign currency exchange rate by spreading propaganda through the social media networks with the aim at hampering the country’s economic development, as well as, some official Money Changers license holders who also violated the rules and regulations set by the Central Bank of Myanmar and manipulated foreign currency exchange rate with the aim at destabilizing the country’s economy. In this regard:

  • A total of 14 perpetrators including unauthorized foreign exchange dealers and brokers have been arrested and are under investigation for manipulating foreign currency exchange rate.
  • According to their confessions, even though security forces managed to conduct further investigation against 11 more perpetrators who committed instability of foreign exchange rate, they have evaded from arrests of law enforcement bodies.

As such, effective legal actions will be taken against those 14 arrestees committing instability of currency exchange rate. Moreover, efforts are being made to arrest 11 evaded perpetrators, it is reported.

Source: MWD (4-6-2024)

  • A total of 14 perpetrators including unauthorized foreign exchange dealers and brokers have been arrested and are under investigation for manipulating foreign currency exchange rate.
engdate: 
Wednesday, June 5, 2024 - 10:30
month: 
June, 2024