Crowding Burmese Migrants Create Inflation on The Border

Description: 

"As Burmese migrant workers crowd along the Thai-Burma border, the value of Burmese currency (Kyat) decreases further. The purchasing rate for one Thai baht is 25 kyat and 20 coins, and the selling rate is 24 kyat and 50 coins, say foreign exchanges in Myawaddy, Kaw-Thaung and Three Pagoda Pass along the border. ?24 kyat and 50 coins by cheque transfer is the highest rate so far this year,” said Mr. Lun, a foreign exchange owner based in Three Pagoda Pass. ?Migrants who came back last month, all brought kyat. The selling price was one baht to 22 kyat and 50 coins or 23 kyat and 20 coins. Today, all those who have returned to Thailand have brought a lot of kyat. Because of this, the Burmese kyat is of less value,” claimed Nai Lun..."

Source/publisher: 

Independent Mon News Agency

Date of Publication: 

2005-05-05

Date of entry: 

2005-06-12

Grouping: 

  • Individual Documents

Category: 

Language: 

English

Local URL: 

Format: 

htm

Size: 

13.35 KB