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Myanmar Crisis

Myanmar tightens grip on forex rates to combat kyat slippage

Central bank reinstates old regulation but concerns arise in growing black market

The Central Bank of Myanmar, which is under the military's control, is wrestling with a steady depreciation of the country's currency, the kyat. (Source photos by Reuters)

BANGKOK/YANGON -- With Myanmar's currency weakening against the dollar since the military takeover in February, its central bank has reinstated a set exchange rate for the kyat, tightening the regime's grip over financial transactions.

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