YANGON, May 23 (Xinhua) -- The Central Bank of Myanmar has raised its exchange rate with U.S. dollar to 1,351 kyats per dollar Tuesday, registering a high exchange rate in the local currency market, according to the official Global New Light of Myanmar Wednesday.
The U.S. dollar-kyat interbank exchange rate in Myanmar's post-water festival period starting late April has risen steadily from 1,323 Kyats per dollar, peaking up to 1,350 kyats per dollar as of Monday.
Kyat appreciation against U.S. dollar was strong in the pre-water festival period in mid-April. However, the U.S. dollar exchange rate was on the higher in late April due to high import and remittances of importers along with a rise in the U.S. dollar value in the global currency market.
