Export and import business are definitely not happy with skyrocketing exchange rates, said Daw Khaing Khaing Nwe, the secretary-general of the UMFCCI in a meeting held at the Central Bank of Myanmar on August 19 to discuss the dramatic decline of Myanmar Kyat. “The current exchange rate in grey market is unreasonable and is much more than it should be. Basically, changes in exchange rate may vary depending on the demand and supply, but we cannot accept the current situation of unreasonable rise in exchange rate,” she explained in the meeting.
Meeting participants discussed the factors that contribute to exchange rate volatility, measures to be taken to bring the exchange rate to normal and the opportunities to cooperate between organisations and traders in pursuit of stable exchange rate.
