YANGON (Reuters) - Myanmar will begin a managed float of its currency in the fiscal year from April and develop an interbank money market, according to central bank documents obtained by Reuters, ending a fixed-rate currency system that has stifled investment and fuelled a black market.
The plan for Myanmar's boldest economic reform yet was laid out by central bank deputy governor Maung Maung Win in documents seen by Reuters on Tuesday that said preparations to unify the dual exchange rate should be made by the end of this month.
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