In the foreign exchange market, the dollar price continued to decline and by the evening of September 8, it had dropped to around 5,150 kyats per dollar, according to market sources.
The highest dollar exchange rate in the market was on August 13, when the rate rose to around 7,200 kyats per dollar. However, starting from the morning of August 14, the dollar began to decline.
On the morning of August 14, the rate was around 7,100 kyats per dollar, but by the afternoon, it dropped to around 6,000 kyats and by the evening, it had decreased to around 6,500 kyats, marking a fall of around 600 kyats in a single day.
On the morning of August 15, the rate remained between 6,200 and 6,500 kyats, and by the evening, it continued to fall to around 5,900 kyats. Thus, within three days, the rate had dropped by approximately 1,000 kyats per dollar.
By the evening of August 15, the dollar had further declined to around 5,400–5,600 kyats.
In early August, the foreign exchange rate saw a rise, with the rate reaching around 5,400 kyats per dollar on August 6. On August 7, it was around 5,500 kyats, and on August 8, the rate rose to over 5,700 kyats per dollar. On the same day, the Euro reached over 6,000 kyats, the Singapore dollar over 4,000 kyats, and the Thai baht around 160 kyats.
On August 13, the exchange rate surged in the gold and currency markets, setting record-high rates. The exchange rate for the US dollar rose to over 7,000 kyats, while the Singapore dollar was around 5,000 kyats, the Thai baht over 200 kyats, the Chinese yuan around 1,000 kyats, and the Malaysian ringgit between 1,400 and 1,500 kyats.
By the last week of August, the exchange rate was around 5,550 kyats per dollar, and on September 2, it was around 5,650 kyats per dollar. On September 4, the rate rose to 5,700 kyats before the dollar started to decline again.
On September 5, the rate dropped to 5,600 kyats per dollar, on September 6 to 5,450 kyats, on September 7 to 5,300 kyats, and on September 8, it fell further to 5,150 kyats per dollar.
