Bringing the official kyat exchange rate closer to informal rates and easing forced conversion rules won’t address the larger problems caused by military rule, they say.
Also this week, the coup leader’s obsession with the NLD followed him to Russia, and the military meddled in another place it shouldn’t—the Central Bank of Myanmar.
Also this week, the most high-profile regime official to be targeted so far was shot at her home, and foreign embassies complained about a harsh new foreign-exchange law.
Conflicting reports have emerged over whether Daw Than Than Swe survived the attack; she is the most senior regime official so far to be targeted.
Exposing its dire need for dollars, the debt-laden junta has ordered that all foreign currencies be deposited and converted into the local unit at a low ‘official’ rate.