YANGON, Sept 21 (NNN-MNA) – The Central Bank of Myanmar (CBM), announced the revocation of licences from 123 foreign currency exchange companies, local media reported.
This decision was made, during a meeting of the central bank’s executive committee on Tuesday, following the companies’ failure to comply with the bank’s rules and directives.
The move came after a similar action taken last month, when the central bank also revoked licences from 13 forex companies.
The central bank’s reference exchange rates yesterday stood at 2,100 kyats per U.S. dollar, 2,246.6 kyats per euro, and 287.82 kyats per yuan, respectively.– NNN-MNA
