The central bank changed their fixed exchange rate from 1,850 kyats to 2,100 kyats per dollar. Export earnings are no longer fully returned, and only 65 percent is set to be returned. After the crisis in the country’s economy due to the dollar price, it is a short-term cure to restore the reading.
The economic situation will not improve. Just as they prepared to increase the dollar price, the outer market already had 3,000 Ks per dollar earring. Many domestically operated companies are preparing for bankruptcy. It is no longer convenient for companies to continue to endure. As companies go down, more and more people will be unemployed. If you think about the consequences, it’s continue and continue.
