Narinjara news

Burmese currency Exchange Value Drastically Falling
(Prices of Commodities in Border Area Sky-Rocketing)

Maungdaw, August 31: It is known that in bilateral Burma-Bangladesh border trade Burma kyats exchange is drastically falling and on Burma side prices of food-staff are sky-rocketing.

At the present in Burma Bangladesh border trade US 1 dollar is 1025 Burmese kyats and Bangladesh 1 Taka is equivalent to 17.50 kyats. In the very recent days, 1 Taka was valued 15.50 kyats. This situation clearly pointed out that kyat is drastically falling compare to Taka.

As a result, it is known that the price of commodities in Maungdaw which is the main centre of Bangla-Burma border trade is sky-high. In Maungdaw, Pawsan Mhwe, the best quality rice per kg is 300 kyats and ordinary rice per kg  250 kyats. It is said that suger per viss  500 kyats, peas per viss  2,400 kyats, onion per viss 900 kyats, petrol per gallon  1,700 kyats and cooking coconut oil is per kg 1,350 kyats respectively. As rice price in Maungdaw is sky-rocketing, rice from Buthidaung township is flowing into Maungdaw in large volume through illegal channels. Each sack of rice get into Maungdaw brings about 2,000 kyats profit.

Due to sky-rocketing of commodities prices, the ordinary people in Maungdaw township are in great trouble for survival. While a government serviceman gets a monthly salary of 5,000 kyats, the price of rice per sake 15,000 kyats, according to local trader from Maungdaw.

Such drastic fall of kyat and hiking of commodities prices is due to unstable political situation in Burma, enormous excess circulation of faked kyats and public growing distrust of kyat said one of the trader involved in the border-trade.

In the near future Burmese kyat is likely to fall speedily. #