The military council is issuing one order after another to control domestic dollars. On April, the dollar exchange rate was fixed at 1,850 kyats. And all those who earn foreign currency in the country are not allowed to hold dollars and are asked to hand it over to the central bank within one day. Many imports are no longer licensed. There is a gradual shortage of imported goods in the country. Exporters are issued export licenses only after receiving full payment from buyers. International customers were lost and exports stopped.
Recently, foreign investment company bank accounts have been forced to exchange dollars. Big companies like Suzuki that were manufacturing cars with the SKD system stopped. Today, they issued an order to suspend the foreign loans of domestic and foreign companies. Under the current situation, all businesses will have to stop. The military council is only focused on getting their dollars and is systematically destroying the country’s economy.
