MT News
The exporters shall convert 65 percent of export earnings to Myanmar Kyats with the set price of the Central Bank of Myanmar.
The Central Bank of Myanmar has issued a notification on 18 April that 65 percent of foreign currency for export declarations exported between 4 April and 5 August 2022 to be converted to Myanmar Kyat with the set price of CBM.
The CBM has issued the Notification under the decision of meeting 27/2023 of Foreign Exchange Management Committee.
The CBM allowed to sell 100 percent of export earnings with the market price before it issued notification No. (12/2022) dated 3 April, 2022.
65 percent of export earnings from 4 April to 5 August will be converted to Myanmar Kyats in accordance with the provisions and 35 percent of export earnings are allowed to sell with the market price.
Banks that have foreign currency selling licences need to obey under the decision of Foreign Exchange Management Committee.
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