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YANGON, Jan 1 (Eleven Media Group/ANN): The Central Bank of Myanmar has announced that there are no plans to change the reference foreign exchange rate and there are no plans to issue any new banknotes.
Due to rumours that the central bank reference exchange rate will be changed in the market; the central bank announced on Dec 15 that the fuel companies are buying the dollar to raise the price of the dollar on the pretext of repaying the financing, and that fraudsters intend to play the market and delay economic growth.
In addition to the USD Liquidity in the market, the central bank has sold US$108 million in 45 days from money transfers into the market. It also said that the central bank's target exchange rate is yet to be fixed, and that there is no confidence in news broadcasts to spread rumors and destabilize the market.
As the Central Bank of Myanmar is the sole issuer and management of local currency notes, it is paying attention to ensure that the people can handle and use banknotes with a high level of safety and cleanliness.
U Win Myint, Director General of the Central Bank of Myanmar Currency Management Department, said the provisions of the Central Bank of Myanmar Law regarding the issuance of local currency.
Types of banknotes that are in legal circulation, Prohibitions and penalties in the Central Bank of Myanmar Law regarding counterfeit currency notes; informing the public and banks of the significant characteristics of banknotes; Points to be followed by banks if counterfeit notes are found.
Factors that can easily distinguish between real and fake banknotes, In order to ensure the cleanliness of the banknotes that are being used by the public, the issues of accepting and exchanging old/torn/damaged banknotes were discussed in the meeting. - Eleven Media Group/ANN
