Prices of consumer goods in local market increased due to appreciation of dollar while volume of export is reduced, said some of the businessmen.
Appreciation of dollar directly causes increase in prices of consumer goods since most are imported. This means difficulties for common people and fixed income earners.
Dollar increases by 16 Kyats per dollar during May, from 1,331 Kyats per dollar on May 1, to 1,347 Kyats per dollar on May 18 in local currency market. Appreciation of dollar in international currency markets and decrease in gold prices are the reasons for increase of dollar value in local market, said some businessmen.
Reduction of exports during the raining season also exacerbate the impact of dollar appreciation.