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YANGON DIVISION – Most of the vendors in Yangon said that it is not convenient to accept and sell their things if people come to buy with new twenty thousand kyat notes issued by the junta council.
The terrorist council announced recently that the new note would be issued on July 31 and vendors and normal working class people are worried about getting these notes and they said they will not accept as much as possible.
“The price of goods went up because of this new note so I haven’t had a good feeling since the beginning. Then how can I give the change if a customer comes to buy with this big note. We are already facing short of small change,” said a person who runs a convenient store in Thingankyun Township of Yangon.
In addition, the National Unity Government (NUG) has announced that 20,000 kyat banknotes issued by the junta council will not be recognized so the civilians do not want to keep it on hand, the store owner commented.
“And if you get fake notes of 20,000 kyats, you’d lose a big value. I think other people are worried about that too.”
Businessmen said that ever since the military council announced that it would issue 20,000 kyat notes, basic food prices have fluctuated and the value of the kyat has fallen more.
The military council has responded that there would be no inflation as they would issue only limited number of 20,000 kyat banknote as commemoration.
But on the ground, ever since the news that 20,000 kyat notes will be issued, people have a lot of concerns. Civilians have no faith in what the junta council said that it was issued as a commemoration. The situation is different from the previous time when the NLD government printed 1000 kyat banknotes with the image of General Aung San and people even paid higher value to exchange and kept it.
The military council has announced that 20,000 kyat notes will be distributed on Monday (July 31), but those new notes are not yet found in the currency market yet, according to some people working in currency exchange.