Stock Groups

Myanmar, with $6 billion in foreign reserves, is doing utmost to stabilise currency -minister By Reuters

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – Myanmar’s banknotes in kyat are counted by workers at the Yangon branch of a bank on April 2, 2012. REUTERS/Soezeya Tun/

(Reuters] – Myanmar’s military authorities have done everything they can to support the economy and stabilize its kyat currency since February coup.

The country’s inflation has increased more than 5% in southeast Asia since military rule. Its foreign reserves are equivalent to 11 trillion Kyat or $6.04 Billion at the official central bank rate. This was Aung Naing Oo (the junta’s investment minister) who spoke in rare interviews.

Without naming them, he attributed Myanmar’s economic problems to the sabotage of military opponents, which he claimed was supported by certain foreign countries.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]