AI In-Brief
Thailand News in Brief
Thai PBS World
Thailand and the world, every day
AI can make mistakes. Please double-check.
Myanmar bans domestic use of the US dollar
14 Sept 14:30 Key points summarised by AI
- Myanmar's Central Bank has banned all domestic use of the US dollar, effective May 25th, 2022, expanding on a prior directive to convert foreign currency accounts into the local Kyat.
- This sweeping de-dollarization measure, which previously met resistance, aims to bolster the Kyat's value but has drawn criticism from foreign businesses concerned about its implementation and potential negative economic impact.
