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Central Bank of Myanmar issues new policy to strictly control foreign exchange_Oriental Fortune Network

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Summary

[Central Bank of Myanmar introduces new policy to strictly control foreign exchange]On April 3, local time, the Central Bank of Myanmar issued a notice to take stricter control measures on foreign exchange receipts and payments. The new foreign exchange control policy includes that the foreign exchange income of local people must be remitted to the foreign currency account opened in Myanmar’s foreign exchange trading licensed bank within one working day, and converted into kyat at the official exchange rate; foreign exchange remittances must be subject to foreign exchange supervision. Banks approved by the committee; foreign currencies that have been remitted to various accounts in Myanmar banks must also be converted into kyat from today. (CCTV News Client)

On April 3, local time, the Central Bank of Myanmar issued a notice to take stricter control measures on foreign exchange receipts and payments.

The new foreign exchange control policy includes that the foreign exchange income of local people must be remitted within one working day to the foreign exchange trading license in MyanmarBankOpen foreign currency accounts, and convert them into kyat at the official exchange rate; foreign exchange remittances abroad must be approved by the Foreign Exchange Supervision CommissionBank; already remitted to MyanmarBankForeign currencies in various accounts must also be converted into kyat from today.

Except for special permission exemptions, all foreign exchange in Myanmar must implement this regulation, and violators will be investigated for legal responsibility.

(Article source: CCTV News Client)

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