YANGON DIVISION – In the domestic business market, one tical of gold costs record high 6.82 million kyats and exchange rate for one US dollar is over 5,400 kyats.
Since July27, the price for US dollar rose sharply and continuously rising till 31 of July. It costs 200-300 kyats more per dollar if buy in black market and the demand is very high.
“Currently, one US dollar note is around 5,400 kyats. All demand to buy but there is no one to sell. If we want to buy, in practical, we have to pay more. Depending on how much we need, one US dollar is 5,500 or 5,600 kyats. If we want to sell, we will get a little less than the price. For example, if we sell at the exchange, one US dollar will be 5,350 kyats,” said an owner of currency exchange.
For the domestic gold price, the price became 6.82 million kyats because of a slight rise in global gold price and dollar price. There are many demand to buy pure gold and only few are selling, according to the gold merchants from Yangon.
