On 12th October 2021, the Central Bank of Myanmar (“CBM”) issued its Directive No. 16/2021 to allow local foreign exchanges of the Chinese Yuan and Japanese Yen.
The authorized dealer banks and the authorized non-financial Institutions are now allowed to exchange Chinese Yuan and Japanese Yen in addition to US Dollar, Euro, Pound, Singapore Dollar, Thai Baht and Malaysian Ringgit previously allowed by the CBM.
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