In the foreign currency market, the value of the dollar has continued to decline, and the price of dollar is around 5,600 kyat per dollar, according to the market.

As the highest increase in the foreign exchange rate in the market, it rose to around 7,200 kyats per dollar on August 13, and since the morning of August 14, the dollar price has started to fall.

The exchange rate was reached around 7,100 kyats per dollar on the morning of August 14, 7,000 kyats per dollar in the afternoon and around 6,500 kyats per dollar in the evening, fell by around 600 kyats per dollar in a day.

In the morning of August 15, it was around between 6,200 and 6,500 kyats per dollar, and in the evening it continued to fall to around 5,900 kyats per dollar. As a result, within three days, it was dropped to around 1,000 kyats per dollar.

On the night of August 15, it was dropped again to around between 5,400 and 5,600 kyats per dollar.

"Just before that, when the exchange rate was at the high level, people were buying too much, so it went up to the highest level. However, at that time, the transaction price was too high. It is not just dollars but all foreign currencies. It went up to about 7,200 kyats per dollar. The price of baht was 206 kyats per baht. At that time, due to a breaking news, buyers immediately stopped buying and the price declined. Because we will see that the selling and buying price was difference from the day of the highest rise," said an official from Myanmar Market Price.

 In August, the foreign exchange rate rose to around 5,400 kyats per dollar on August 6. On August 7, it was around 5,500 per dollar and on over than 6,000 kyats per euro, over 4,000 kyats per Singapore dollar and around 160 kyats per baht.

On August 13, the exchange rate in the gold and silver market went up sharply, leading to a record high price. The foreign exchange rate in that day was more than 7,000 kyats per dollar, around 5,000 kyats per Singapore dollar, more than 200 kyats per Thai baht, around 1,000 kyats per Yuan and around 1400-1500 kyats per ringgit.

“If you observe here, you will see that the buying and selling prices are very different. Because when the price is going up, sellers sell in advance of the price to cover the price increase. Even that, they sold and couldn't buy it back. Another thing is that if the selling price and the buying price are much difference, there is a possibility that the exchange rate can decline. This is based on experience. If only the buying and selling prices are difference from each other and the demand does not fall, which made the exchange rate goes up. Only the sale of foreign currency increases, the price will go down again,” said a Myanmar Market Price official.