• Burmese
Thursday, July 10, 2025
No Result
View All Result
NEWSLETTER
The Irrawaddy
28 °c
Yangon
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
No Result
View All Result
The Irrawaddy
No Result
View All Result
Home News Burma

Myanmar Junta Names Foreign Businesses Exempt From Exchange Regulations

The Irrawaddy by The Irrawaddy
April 21, 2022
in Burma, Coup, Factiva, News
Reading Time: 1 min read
0 0
A A
Myanmar Junta Names Foreign Businesses Exempt From Exchange Regulations

There is a growing gap between the official and street value of the kyat.

7.4k
VIEWS
Share on FacebookShare on Twitter

The junta-controlled Central Bank of Myanmar (CBM) has named those exempt from its controversial regulation that foreign exchange earned by citizens must be converted into kyats at the official rate within one working day.

It said foreign direct investments approved by the Myanmar Investment Commission, investments operating in special economic zones, foreign diplomats in Myanmar, their family members, foreign diplomatic and United Nations staff and citizens holding UN laissez-passer are exempt.

Diplomat-level foreign staff from the International Committee of the Red Cross, International Labor Organization and other international non-governmental organizations and development agencies, such as the Japan International Cooperation Agency, and international airlines are also exempted.

RelatedPosts

‘Reforms Are Not Optional’: Prominent Activist Urges NUG to Act Before It’s Too Late

‘Reforms Are Not Optional’: Prominent Activist Urges NUG to Act Before It’s Too Late

July 9, 2025
498
Myanmar Junta’s Top Russian Arms Supplier Tosses in Quake ‘Donation’

Myanmar Junta’s Top Russian Arms Supplier Tosses in Quake ‘Donation’

July 9, 2025
424
Chin Resistance Tensions Boil Over as CNA Seizes Rival’s Myanmar HQ

Chin Resistance Tensions Boil Over as CNA Seizes Rival’s Myanmar HQ

July 8, 2025
5.3k

Licensed banks must ensure exemptions are granted correctly, said the central bank, which requires banks to report every exemption request.

On April 3, the CBM said foreign currencies must be deposited in accounts at licensed banks and exchanged at the rate of 1,850 kyats per dollar within 24 hours. The street exchange rate is more than 2,000.

It said the directive applied to foreign currency that entered the country before April 3 and failure to comply would lead to prosecution under the Foreign Exchange Management Law.

The Singaporean, Japanese and European Union missions asked the regime to exempt their citizens’ companies and NGOs, saying they would impede their ability to trade.

“Business owned by citizens and ventures jointly owned with and foreigners are not exempt. Domestic businesses will suffer the most,” said an economist, who asked for anonymity.

“And the regime still cannot handle the problem of how it will sell US dollars to businesses. This notice only responds to international complaints but further worsens the situation for domestic businesses,” he added.

Exporters and foreign currency account holders lost nearly 10 percent of their earnings because of the gap between the official and street exchange rates, according to traders.

Your Thoughts …
Tags: Central Bank of Myanmarcivil disobedience movementcivilian deathsCoupcrackdownDemocracydollarExchange RateHuman Rightsjuntakyatmilitary in politicsmilitary regimeMin Aung HlaingNational League for DemocracyNational Unity GovernmentNovember 8 general electionPDFPeople’s Defense Forcepeople’s warPolitical PrisonersRule of LawState Administrative CouncilState Counselor Daw Aung San Suu KyiTatmadaw
The Irrawaddy

The Irrawaddy

...

Similar Picks:

As Myanmar’s Military Stumbles, a Top General’s Dissapearance Fuels Intrigue
Burma

As Myanmar’s Military Stumbles, a Top General’s Dissapearance Fuels Intrigue

by The Irrawaddy
April 19, 2024
47k

The junta’s No. 2 has not been seen in public since April 3, sparking rumors that he was either gravely...

Read moreDetails
Enter the Dragon, Exit the Junta: Myanmar’s Brotherhood Alliance makes Chinese New Year Vow
Burma

Enter the Dragon, Exit the Junta: Myanmar’s Brotherhood Alliance makes Chinese New Year Vow

by The Irrawaddy
February 12, 2024
44.8k

Ethnic armed grouping says it will continue Operation 1027 offensive until goal of ousting the junta is achieved. 

Read moreDetails
Drone Attack at Myanmar-China Border Gate Causes Over $14m in Losses
Business

Drone Attack at Myanmar-China Border Gate Causes Over $14m in Losses

by The Irrawaddy
November 27, 2023
38.6k

Jin San Jiao is latest northern Shan State trade hub in crosshairs of ethnic Brotherhood Alliance.

Read moreDetails
Arakan Army Captures Myanmar Junta Brigade General in Chin State Rout: Report
Burma

Arakan Army Captures Myanmar Junta Brigade General in Chin State Rout: Report

by The Irrawaddy
January 15, 2024
36.6k

Rakhine-based armed group has reportedly detained the chief of 19th Military Operations Command after seizing his base in Paletwa Township.

Read moreDetails
Myanmar Coup Leader Showers Medals on Troops as String of Defeats Erodes Morale
Burma

Myanmar Coup Leader Showers Medals on Troops as String of Defeats Erodes Morale

by The Irrawaddy
December 8, 2023
32.9k

Min Aung Hlaing was trying to distract attention from a string of military defeats by handing out 147 medals for...

Read moreDetails
Myanmar Junta Arrests Thai Condo Buyers, Realtors as Currency Crashes
Business

Myanmar Junta Arrests Thai Condo Buyers, Realtors as Currency Crashes

by The Irrawaddy
June 4, 2024
27.7k

Monday’s arrests follow reports that Myanmar has become one of Thailand’s most lucrative markets for selling condos since the 2021...

Read moreDetails
Load More
Next Post
Myanmar Regime Murders NLD Official’s Wife and Dumps Body on Street

Myanmar Regime Murders NLD Official’s Wife and Dumps Body on Street

Myanmar Junta Chief Excluded From US-ASEAN Special Summit

Myanmar Junta Chief Excluded From US-ASEAN Special Summit

No Result
View All Result

Recommended

37 Years and Counting: Why Has Myanmar’s Democracy Struggle Taken So Long?

37 Years and Counting: Why Has Myanmar’s Democracy Struggle Taken So Long?

7 days ago
1.3k
China’s Surveillance State Watches Everyone, Everywhere

China’s Surveillance State Watches Everyone, Everywhere

2 days ago
711

Most Read

  • Chin Resistance Tensions Boil Over as CNA Seizes Rival’s Myanmar HQ

    Chin Resistance Tensions Boil Over as CNA Seizes Rival’s Myanmar HQ

    shares
    Share 0 Tweet 0
  • Myanmar Junta Starves Last Rakhine Strongholds as AA Closes In

    shares
    Share 0 Tweet 0
  • Trump’s Tariffs to Hit Myanmar’s Garment Manufacturers Hard

    shares
    Share 0 Tweet 0
  • ‘Reforms Are Not Optional’: Prominent Activist Urges NUG to Act Before It’s Too Late

    shares
    Share 0 Tweet 0
  • Myanmar Junta’s Top Russian Arms Supplier Tosses in Quake ‘Donation’

    shares
    Share 0 Tweet 0

Newsletter

Get The Irrawaddy’s latest news, analyses and opinion pieces on Myanmar in your inbox.

Subscribe here for daily updates.

Contents

  • News
  • Politics
  • War Against the Junta
  • Myanmar’s Crisis & the World
  • Conflicts In Numbers
  • Junta Crony
  • Ethnic Issues
  • Asia
  • World
  • Business
  • Economy
  • Election 2020
  • Elections in History
  • Cartoons
  • Features
  • Opinion
  • Editorial
  • Commentary
  • Guest Column
  • Analysis
  • Letters
  • In Person
  • Interview
  • Profile
  • Dateline
  • Specials
  • Myanmar Diary
  • Women & Gender
  • Places in History
  • On This Day
  • From the Archive
  • Myanmar & COVID-19
  • Intelligence
  • Myanmar-China Watch
  • Lifestyle
  • Travel
  • Food
  • Fashion & Design
  • Videos
  • Photos
  • Photo Essay
  • Donation

About The Irrawaddy

Founded in 1993 by a group of Myanmar journalists living in exile in Thailand, The Irrawaddy is a leading source of reliable news, information, and analysis on Burma/Myanmar and the Southeast Asian region. From its inception, The Irrawaddy has been an independent news media group, unaffiliated with any political party, organization or government. We believe that media must be free and independent and we strive to preserve press freedom.

  • Copyright
  • Code of Ethics
  • Privacy Policy
  • Team
  • About Us
  • Careers
  • Contact
  • Burmese

© 2023 Irrawaddy Publishing Group. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Business
    • Economy
    • Business Roundup
  • Books
  • Donation

© 2023 Irrawaddy Publishing Group. All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.