The Central Bank sold USD 6,000,000 at its FX auction with an exchange rate of 1,669.5 MMK per USD today (May 13) in order to mitigate currency fluctuations.
The Central Bank also sold 6 Million USD yesterday (May 12) at an auction rate of 1650.6 MMK per USD
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Price of the dollar sharply falls to 1,645 MMK on May 13 around 2pm
The kyat strengthens after the Central Bank of Myanmar sold a total of 12 Million USD on May 12 and May 13.
The CBM is also exchanging the dollar at 1,645 MMK per dollar in some changers.
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Due to CBM intervention over the past few 24 hours, the price of gold also fell sharply to 1,600,000 kyats on May 13.
On May 12 at 2pm, the price of gold reach a record peak of 1,690,000 kyats. From May 8 to May 12, the price of gold climbed by approximately 200,000 kyats
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