Myanmar Reminds Public Of Foreign Currency And Exchange Requirements

On August 21, 2023, the Central Bank of Myanmar (CBM) issued a public notice in local newspapers reiterating the rights and obligations associated with holding and exchanging foreign currency.

The notice emphasized that foreign exchange-dealing license holders can perform foreign currency exchange business in the country with both cash and travelers' checks. The permissible foreign currencies for sale at money changers include US dollars (USD), euros, Singapore dollars (SGD), Thai baht (THB), Malaysian ringgit, Chinese yuan, and Japanese yen.

The CBM has regularly warned the public that internal residents can only possess amounts of foreign currency equivalent to USD 10,000 for up to six months from the date of receipt.