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Mizzima: Burmese Kyat falls into we
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Burmese Kyat falls into weakest ever levels
May 17, 2001
Mizzima News Group (www.mizzima.com)
Burmese kyat currency continues to slide to its lowest ever levels in
its exchange with foreign currencies and the gold price has risen
swiftly across the country. The exchange rate with US dollar in Rangoon
and other cities has reached to 850-900 kyat to the dollar in open
market compared to the rate of 380 kyat to one dollar two months ago.
The money dealers in Rangoon, however, said that a few people are
willing to sell the dollar.
The official rate remains six kyat to the dollar.
Meanwhile, gold price in Rangoon has jumped from 80,000 kyat a few weeks
ago to 95,000 kyat today per one kja tha (16.32 gram) gold.
In Taknef, Bangladesh?s border town with Burma, kyat has declined in
exchange with Bangladesh taka and it is one taka/ 13 kyat, compared to
one taka/ 10 kyat in April. The exchange rate with US dollar at the
Bangladesh-Burma border is around 900 kyat to the dollar and Burmese
businesspersons are buying the US dollar currency notes as much as they
can in the Bangladesh border town.
In Sittwe township of Arakan State in Burma, the gold price has gone
upto one lakh and twenty thousand kyat per one kja tha gold, comparing
to last month?s rate of 80,000 kyat per one kja tha gold.
In the border trade between India and Burma, the Burmese Kyat is
beleaguered in exchange with Indian Rupee. Today rate at Moreh border
town of India is 13 kyat to the rupee.
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<center><b><u><font color="#3366FF"><font size=+2>Burmese Kyat falls into
weakest ever levels</font></font></u></b></center>
<p><font color="#FF0000"><font size=+1>May 17, 2001</font></font>
<br><font color="#FF0000"><font size=+1>Mizzima News Group <a href="http://www.mizzima.com";>(www.mizzima.com)</a></font></font>
<p><font size=+1>Burmese kyat currency continues to slide to its lowest
ever levels in its exchange with foreign currencies and the gold price
has risen swiftly across the country. The exchange rate with US dollar
in Rangoon and other cities has reached to 850-900 kyat to the dollar in
open market compared to the rate of 380 kyat to one dollar two months ago.
The money dealers in Rangoon, however, said that a few people are willing
to sell the dollar.</font>
<p><font size=+1>The official rate remains six kyat to the dollar.</font>
<p><font size=+1>Meanwhile, gold price in Rangoon has jumped from 80,000
kyat a few weeks ago to 95,000 kyat today per one <i>kja tha</i> (16.32
gram) gold.</font>
<p><font size=+1>In Taknef, Bangladesh?s border town with Burma, kyat has
declined in exchange with Bangladesh taka and it is one taka/ 13 kyat,
compared to one taka/ 10 kyat in April. The exchange rate with US dollar
at the Bangladesh-Burma border is around 900 kyat to the dollar and Burmese
businesspersons are buying the US dollar currency notes as much as they
can in the Bangladesh border town.</font>
<p><font size=+1>In Sittwe township of Arakan State in Burma, the gold
price has gone upto one lakh and twenty thousand kyat per one <i>kja tha</i>
gold, comparing to last month?s rate of 80,000 kyat per one <i>kja tha</i>
gold.</font>
<p><font size=+1>In the border trade between India and Burma, the Burmese
Kyat is beleaguered in exchange with Indian Rupee. Today rate at Moreh
border town of India is 13 kyat to the rupee.</font>
<p> </html>
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