There is no need to adjust the reference foreign exchange rate of 2,100 kyats per dollar as set by the Central Bank of Myanmar (CBM), said its Director General U Aung Aung.

U Aung Aung said the above regarding the news that appeared on social networks that foreign migrant workers' wages earned in foreign currency will be exchanged for 3,000 kyats per dollar.

"The central bank's reference exchange rate of 2,100 kyats per dollar has no reason to adjust. There are rumors and lobbying about it on social networks," he said.

On August 5, 2022, the CBM issued Notice No. 36/2022, and in this notice, one dollar was set to be exchanged for 2,100 kyats.

The Central Bank of Myanmar has announced that wages and salary earned in foreign currency by citizens working abroad and the wages of the seamen can be used within 21 days or transferred to another person or sold to banks freely.

According to Central Bank's Notification No. 39/2022 dated August 30, 2022, the wages earned in foreign currency by Myanmar nationals working abroad can be used within 21 days or transferred to another person or sold to banks freely.

In addition, the wages and salaries earned in foreign currency by Myanmar nationals working abroad are being purchased at a fair exchange rate by banks, according to the CBM.