YANGON: Myanmar's central bank will no longer set exchange rates for foreign currencies and will allow banks and licensed dealers to decide their own rates, state media reported on Wednesday (Dec 6), in a rare easing of some of its tight controls.
The report gave no reason for Tuesday's decision by the Central Bank of Myanmar (CBM) and no notice of the policy change was posted on the CBM's website. Calls to the CBM went unanswered early on Wednesday.
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