THEUS  dollar  exchange  rate  against Myanmar Kyat has risen  to  K1,600  per  dollar  in  the  local exchange market.

Although  the  dollar  exchange  rate  hit  only  around  K1,500  per  dollar  in  the  local  market  on  31  March,  the  rate  jumped to K1,605 per dollar on 20 April with a rise of about K100 per dollar within three weeks.

Though  the  dollar  ex-change  rate  stood  at  around  K1,330  per  dollar  at  the  local  market  at  the  end  of  January,  the rate jumped to over K1,465 per dollar in February. The exchange  rate  skipped  by  K130  per dollar in a few days.

Consequently,  the  CBM  soldUS$6.8  million  on  3  February  at  a  foreign  currency  auction system to stabilize the exchange rate.

Since the beginning of the year,  the  bank  has  been  purchasing  and  selling  the  US  dollar in the auction market to control  the  rise  and  fall  of  the  exchange rate.

In the domestic market in 2021, the highest and lowest exchange  rate  is  currently  fixed  around K1,327-1,345 in January, K1,335-1,465  in  February  and  K1,420-1,550 in March.

In 2020, the exchange rate moved  in  the  range  of  K1,465-1,493  in  January,  K1,436-1,465  in  February,  K1,320-1,445  in  March,  K1,395-1,440  in  April,  K1,406-1,426  in  May,  K1,385-1,412  in  June,  K1,367-1,410  in  July,  K1,335-1,390  in  August,  K1,310-1,355  in  September,  K1,282-1,315 in October, K1,303-1,330 in November and K1,324-1,403 in December.

In  the  last  six  months  in  2019,  the  rates  were  fixed  at  K1,508-1,517 in July, K1,510-1,526 in August, K1,527-1,565 in Sep-tember, K1,528-1,537 in October, K1,510-1,524 in November and K1,485-1,513 in December.

On 20 September 2018, the dollar  exchange  rate  hit  a  re-cord  high  of  K1,650  in  the  local  exchange  market.

NN/GNLM

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