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This screengrab provided via AFPTV and taken from a broadcast by Myanmar Radio and Television (MRTV) in Myanmar on February 3, 2021 shows military chief General Min Aung Hlaing chairing a meeting at the Union of Myanmar Federation of Chambers of Commerce and Industry in Naypyidaw following February 1 military coup. (Photo by - / Myanmar Radio and Television / AFP) / -----EDITORS NOTE --- RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / Myanmar Radio and Television via AFPTV" - NO MARKETING - NO A
MYANMAR – It has been reported that the businessmen from the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) requested that businesses be allowed full usage of U.S dollars they receive from Myanmar exports to other foreign countries but the coup leader Min Aung Hlaing didn’t agree and rejected the request.
The businessmen not only requested that at meetings but also requested by letters to Min Aung Hlaing for 100% usage of export money. But Min Aung Hlaing is said to have kept on rejecting it.
A businessman from UMFCCI said, “We requested for 100% usage of export money by businessmen at the meeting on July 2. And then we requested by letters. But the junta council rejected all requests. That is one of the reasons for the current declining exports.”
It has been reported that the junta council forced businesses to deposit 50% of the export money at junta banks and only 50% was allowed to be used by businessmen.
In addition, the junta council one sidedly demand that the 50%of export money must be exchanged to MMK at the rate of 2100 kyats for one dollar although the going rate is roughly 3400 kyats for one dollar as it prepares to publish new 20000 MMK bank notes.