The 20,000-ton wave has already started to hit. Before the release of the new banknotes to be issued by the Military Council, the price of gold rose to nearly 40,000,000 . The dollar exchange rate rose to around 3,500 kyats per dollar. However, the gold market in Yangon and Mandalay has not opened yet due to the targeting of gold entrepreneurs and arrests by the Military Council. It’s getting close to the day when the paper money will be released. The market jumped due to the news that there was a political change. The price of gold has already set a record in the gold world.
Since the news that the new 20,000 kyat notes will be issued, the gold market, foreign currency market, In the real estate market and the car market, the prices are unstable and the market is in a broken state. The price of 1 American dollar is 2,100 kyats set by the Military Council. In the foreign market, the selling price for 1 American dollar is around 3,500 kyats. The purchase price is around 3450 kyat and the price is going up.
The new banknotes have not even been released. It is already hitting the world, If it comes out, the situation will be worse, Everyone knows that no matter what the military council says, it is limited production, but not to be believed. Although the price of goods has risen exponentially, the basic wages have not increased, so many people are facing difficulties in their livelihood.