Remittances will be added 30 kyats extra per dollar: CB declares
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Khit / Myo Gyi (NP News) - Oct 30
The Central Bank of Myanmar declared on October 28 that the government will provide to the Myanmar National expatriates 30 kyats extra for every dollar in their remittances.
The State will provide an additional subsidy of 30 kyats per dollar for the remittances of wages and salary of foreign earnings by Myanmar National expatriates through the licensed banks' trade in foreign currency, it stated.
The announcement will be effective from November 1st.
It has been over 200 million USD in remittances of Myanmar expatriates within six months in 2022.
In addition, the CBM declared in recent months that remittance could exchange independently into kyat and use domestically.