The US dollar exchange rate that was fluctuating between Ks1,354 and Ks1,362 in recent days jumped to Ks1,369 on 8 February. The purchasing US dollar price is Ks1,367, whereas the selling price is Ks1,371 on 9 February, according to a local private bank.
After the dollar index reached a recorded high of 103.78 point in the global market on the evening of 3 January, the rate dropped slightly. On 7 February, the rate rose to a high of 100.14, then reached the 100.54 point on the afternoon of 8 February.
The dollar price is currently unstable in the global market, which is directly related to the domestic market. The greenback exchange rate hit a high of Ks1,438 on 16 December, then plunged down to Ks1,346 on 16 January. The rate has varied between Ks1,354 to Ks1,362 from 20 January to 7 February. The exchange rate climbed up to Ks1,369 on 8 February with the rise in global currency market, it is learnt from local currency exchange market. The Central Bank of Myanmar (CBM) set the exchange rate at Ks1,350 from 31 January to 6 February. The rate on 7 February was at Ks1,355 until CBM increased the rate to Ks1,360 on 8 and 9 January.