It is known that the price of bark gold in the market has risen to 3,950,000 kyats and 3,660 kyats per dollar. This is due to the rise in global gold prices and the rise in the domestic dollar. 39 lakh per kyat of bark gold is an increase of about 6 lakh kyat per kyat compared to the price in the past six months. In September 2023, the price of bark gold was more than 33.5 lakh kyats. The domestic exchange rate also rose to more than 3,660 kyats per dollar in the foreign market. The price has risen from more than 350 kyats to one dollar in the past six months. That’s why there are reports that 20,000 worth of banknotes will be issued next month.
After the coup, the military council, fearing that people would buy dollars and increase the price, prohibited the people from holding dollars in many ways. If you want to hold dollars, you must show a path of income. Those who hold more than that are threatened with legal action. During the NLD government, the right to hold dollars was not restricted. At the end of January 2021, the dollar price was over 1,300 kyats, while the gold price was only over 13,000 kyats.
