r/myanmar • u/SourWhiteSnowBerry Born in Myanmar, studied Abroad , back in Myanmar • 15h ago

News 📰 Why dollar price increased by 200 kyat so suddenly?

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5

u/mosquitointhecorner 14h ago

Economy not doing well. CPI no bueno and Burmese government central bank is now in jeopardy. Many defaults from construction projects. Import restrictions leading to little to no exports. So many factors.

TLDR., we’re effed the long way and the short way

5

u/FaithRebound 15h ago

U.S Consumer Price Index is out and America's Inflation is high. High inflation means high dollar price.

2

u/Dismal-Package-5899 14h ago

Export/import restrictions tightening

1

u/poehatmoyd 10h ago

The news of government having short budget and burrowing from central bank of Myanmar. The expected news of more supply will urge citizens to lose more trust in the Kyat currency.

Burrowing from Belarus with high interest rate has been brought up in the Hluttaw too. Kyat’s value will decrease further.

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u/CleonicDynasty 9m ago

USD has been getting stronger globally after US inflation (CPI) rose to 3.7%. This means the US Federal Reserve may keep interest rates higher, making the dollar stronger. In Myanmar, dollar shortages and high demand for USD are also pushing up the exchange rate. So it's likely a mix of both global and local factors.