Seven small-scale dealers engaging in illegal exchange of Myanmar currency for Thai baht or vice versa were arrested in Myawady, a town of Myanmar close to the border Thailand, at about 3pm on August 13, local sources said. 

As baht exchange rate against kyat increases rapidly in parallel with the dollar price, police and authorities conducted surprise checks, and consequently arrested seven small-scale dealers engaged in exchange between Myanmar kyat and Thai baht on Kyankhin Street, Ward No.3 near Friendship Bridge in Myawady.

An official said four men and three women were arrested together with 145,900 baht.

Myawady police station has filed a case against them under section 42 of the Foreign Currency Management Law. 

As a border town, Myawady sees traders use both Myanmar kyat and Thai baht. It is necessary to exchange Myanmar currency for Thai baht to buy goods from Thailand.