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Suzuki halts Myanmar assembly, stymied by foreign currency curbs

Japanese automaker unable to buy parts or exchange kyat for dollars

Suzuki, one of the first automakers to set up an assembly plant in Myanmar, has had to suspend production there due to the difficulty of exchanging its kyat earnings for dollars.

BANGKOK -- Japan's Suzuki suspended auto production at two factories in Myanmar on July 1 due to its inability to import necessary parts now that the military government is insisting on allocating foreign currency based on what it sees as need.

Suzuki confirmed the issue to Nikkei on Friday. Before July 1, Suzuki had scaled back production in the country, using imported parts in its inventory. However, "we ran out of stock," a Suzuki representative said, "and it has become difficult to continue production."

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