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Myanmar's forced currency conversions seen making few exceptions

Companies fear disruptions to payments for imports and exports

The kyat has weakened since Myanmar's military took control of the government in February 2021.   © Reuters

BANGKOK -- Myanmar's new requirement that banks convert foreign currency into kyat will apply to a wide range of payments, including for exports and services, its central bank said Tuesday as businesses weighed the impact of the move.

Banks are unlikely to be able to make broad exemptions to the rule, a source in the financial industry said.

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