Sun, 03 Dec 2023

YANGON, Sept. 20 (Xinhua) -- The Central Bank of Myanmar (CBM) has announced the revocation of licenses from 123 foreign currency exchange companies, local media reported.

This decision was made during a meeting of the central bank's executive committee on Tuesday, following the companies' failure to comply with the bank's rules and directives.

The move came after a similar action taken last month when the central bank also revoked licenses from 13 forex companies.

The central bank's reference exchange rates on Wednesday stood at 2,100 kyats per U.S. dollar, 2,246.6 kyats per euro, and 287.82 kyats per yuan, respectively.

More Myanmar News

Access More

Sign up for Myanmar News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!