29 May 2024
Domestically, the price of the dollar rose to 4,400 dollars, and the price of gold jumped to more than 55,000 kyats per kyat, according to dollar and gold traders.
The world gold price, which had risen to about $2,450 per ounce, fell back to $2,350, but the domestic gold price did not decline, and continued to rise to more than 5,200,000 kyats. In addition, on May 28 (yesterday), it jumped over two hundred thousand kyats in one day and rose again to 5,520,000 kyats.
The price of the dollar was around 2,100 kyats per dollar until the third week of May, and it has continued to rise in recent days. Today, it has reached 4,400 kyats per dollar. Political analysts have considered that it is abnormal inflation and related to politics.
MT News has contacted the Central Bank regarding how to bring down the price of the dollar, which has been pushed higher than it should be, to the normal price, and what actions will be taken against those who play the dollar market, and the answers from the central bank will be provided further.
