26.05.2025 (12:01 PM) Htate See

The foreign exchange rate in the domestic market, which was around 3,500 kyats per dollar at the end of 2023, rose to around 4,000 kyats per dollar in early 2024, and reached a record high of over 7,000 kyats by mid-year, is a notable event for the economic sector in 2024.

The dollar fluctuated wildly in August 2024. On August 13, the exchange rate in the gold and silver market rose wildly, reaching a record high. The foreign exchange rate increased to over 7,000 kyats per dollar, around 5,000 kyats per Singapore dollar, over 200 kyats per Thai baht, around 1,000 kyats per Chinese yuan, and around 1,400-1,500 kyats per Malaysian ringgit.

The highest increase in the foreign exchange rate in the market was around 7,200 kyats per dollar on August 13, and then the dollar began to decline starting in the morning of August 14. On August 14, the dollar fell by around 600 kyats per dollar in the morning, to around 7,100 kyats per dollar, 7,000 kyats per dollar in the afternoon, and 6,500 kyats per dollar in the evening.

On August 18, the dollar was at 6,300 kyats, on August 19, it was at 6,350 kyats per dollar, and on August 20, it was around 6,350 kyats. However, on August 21, it fell back to around 5,800 kyats per dollar.

On December 1, 2024, it was at 4,470 kyats per dollar, on December 27, it was at 4,450 kyats per dollar, and on December 30, it was at around 4,450 kyats per dollar.