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Fears of further depreciation after Myanmar’s new 20,000 Kyat note announcement

12 Sept 15:31 Key points summarised by AI

Myanmar's Central Bank announced a new 20,000 Kyat note, sparking public fear of further currency depreciation despite assurances it's a limited commemorative issue.
The announcement triggered panic buying in foreign currency and gold markets, leading to significant depreciation of the Kyat against the US dollar, SGD, and Baht.
Military officials blamed foreign media and 'rumour mongers' for the price spikes, reiterating the new notes are not for regular circulation and commemorate a white elephant's birthday and a pagoda's completion.

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.