Myanmar to accept Thai baht for border trade, eyes using rupee

14 Sept 01:03 Key points summarised by AI

Myanmar will start accepting the Thai baht for border trade transactions and is exploring a similar plan for the Indian rupee, building on its existing acceptance of China's renminbi.
This move aims to lessen dependence on the U.S. dollar, mitigate risks from sudden exchange rate fluctuations due to geopolitical factors, and help reduce inflation.
Despite the economic downturn since the military coup and ongoing civil unrest, the government projects "modest" gross domestic product growth for the fiscal year ending October 2022.
Thailand is Myanmar's second-largest trading partner, with bilateral trade valued at $5.3 billion in the 2020-2021 fiscal year, involving key exports like gas and imports of machinery.

Detained Suu Kyi receives UK royal package: Myanmar govt

Today 03:08 Key points summarised by AI

Myanmar's detained Nobel laureate, Aung San Suu Kyi, received a package from Britain's King Charles III, which included two gardening books, a sealed envelope, and diplomatic communication.
The event marked the first release of images of Suu Kyi in two months and saw Myanmar authorities describe her as a "special female prisoner" for the first time.
Suu Kyi, who was deposed in a 2021 military coup that triggered an ongoing civil war, remains under house arrest on charges that rights groups contend are politically motivated.