After the currency was blacklisted, the value of the Myanmar kyat decreased due to money speculators

After the Financial Action Task Force (FATF) announced on the night of October 21 that Myanmar had been blacklisted, the value of the Kyat was falling due to money speculators.

Prior to the announcement, yesterday evening, the price was around 2,900 kyats per US dollar, and after the announcement, the price raise to around 4,000 kyats at midnight.

In addition, the Thai baht exchange rate was about 75 kyats per baht on the evening of October 21st, so it became difficult to buy Thai baht on the evening of October 21st, and there were only buyers without sellers, according to Thai baht exchangers.

Since Myanmar has entered the FATF’s blacklist, trade operations, including international financial flows, Some businessmen have pointed out that there may be difficulties in working through the higher levels than before in the flow of money from Myanmar bank accounts that have been opened internationally.