US dollar gains up to K1,500 in April first week

According to the Central Bank of Myanmar’s data, the US dollar value against Kyat appreciates in the domestic forex market, reaching up to K1,500.
The dollar exchange rate stood at K1,469 on 31 March and strengthened to K1,495 on 6 April. The exchange rate rose by K20 in a week. Nevertheless, the local forex market rate is K70 higher than the rate set by the CBM. The CBM set a dollar exchange rate at K1,495 on 6 April. In contrast, it stood at K1,570 in the local forex market, a money changer reported.
A dollar was valued at only K1,330 in January-end. The dollar exchange rate jumped to K1,441 in February, with an increase of K100 against January’s rate. The local forex market’s data showed that the dollar exchange rate touched the maximum of K1,345 and the minimum of K1,327 in January 2021. The rate moved in the range of K1,335-1,465 in February. It reached the lowest of K1,420 and the highest of K1,550 in March.
In 2020, the exchange rate moved in the range of K1,465-1,493 in January, K1,436-1,465 in February, K1,320-1,445 in March, K1,395-1,440 in April, K1,406-1,426 in May, K1,385-1,412 in June, K1,367-1,410 in July, K1,335-1,390 in August, K1,310-1,355 in September, K1,282-1,315 in October, K1,303-1,330 in November and K1,324-1,403 in December.
In 2019, the rates are pegged at K1,508-1,517 in July, K1,510-1,526 in August, K1,527-1,565 in September, K1,528-1,537 in October, K1,510-1,524 in November and K1,485-1,513 in December.
On 20 September 2018, the dollar exchange rate hit an all-time high of K1,650 in the local currency market. — NN/GNLM