Central Banking

Central Bank of Myanmar confirms currency float

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The Central Bank of Myanmar today made a brief announcement in the state-run New Light of Myanmar newspaper confirming rumours of a planned currency float.

Beginning on April 1, the central bank said the country's currency, the kyat, will be determined by "supply and demand". This is the first public statement on steps to reform the country's exchange rate regime. Earlier this week, it was widely reported that a senior government official had confirmed the float.

The central bank is set to

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