Myanmar’s military government has slightly eased its mandatoryBloomberg Terminal forex conversion rule for exporters and changed the reference exchange rate from 1,850 to 2,100 kyat per dollar as the national currency continues to weaken.
The Central Bank of Myanmar on Friday issued a notification with immediate effect allowing all traders to exchange only 65% -- from 100% previously -- of their export earnings for kyat. Citizens still have to convert all their foreign-currency holdings within one working day after receiving the money.
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