ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Myanmar Crisis

Myanmar to exempt foreign companies from forced currency exchanges

Central bank briefs banking officials on loosening of rule that has created uncertainty

Myanmar bank notes. The country has introduced rules requiring businesses and individuals to exchange foreign currency for kyat.

BANGKOK -- The Central Bank of Myanmar plans to exempt foreign-owned companies from forced exchanges of hard currency into local kyat, people familiar with the matter said, in a loosening of a rule that critics say risks deepening the Southeast Asian country's isolation.

Central bank policymakers informed banking officials of the exemption at a meeting Tuesday, sources said.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more