Dollar and euro rise in this week in Yangon verus Myanmar currency kyat in illegal market, after the government fuel price change in August 15 said the local importer who live in Yangon.
In Yangon ,government is still using 1 dollar equivalent to 6 kyats,instead of the real exchange rate 1200 kyats.
Dollar,one of the popular hard currency in Yangon,It had been 1200 for several months in this year after taking action on illegal money transfer hondi player.
" dollar rose from 1200 kyats to 1350 kyats in last two days ago ,it is one of the remarkable exchange rate in this years, export earning that allowed to transfer from own account go up above 1405 kyats "
Myanmar currency kyat fell in illegal market against the yen and euro in Myanmar -china border area that he added.
There is double exchange rate in Yangon offically and illegal ly,The dollar often moves based on trader views about economic factors like the size of the Government trade deficit or the outlook for economic growth. By those measures it seems destined to fall, as it was doing until a few weeks ago.
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