Effective January 1, 2025, Myanmar’s Customs Department will calculate import and export duties using the Market Trading Rate, estimated at ks 3,580 per USD, replacing the previous Reference Rate of ks  2,100 per USD.

The announcement, outlined in Notification No. 007/2024 from the Customs Department’s MACCS Division, was released on December 27, 2024. The shift follows Directive No. 90/2024 from the Ministry of Commerce, which mandates the use of the market-based Weekly Exchange Rate for tax assessments.

Under this change, the Customs Department will no longer rely on the Central Bank of Myanmar's Reference Rate. Instead, the Market Trading Rate will serve as the basis for calculating the Weekly Exchange Rate, ensuring tax assessments reflect prevailing market conditions.

Weekly Exchange Rates based on the Market Trading Rate will be regularly published on the Customs Department's official website and Facebook page to provide transparency and updates to stakeholders.

The reference exchange rate published by the Central Bank of Myanmar on December 26, 2024, is 2,100 kyats per dollar, and the market Online Trading Rate is 3,588 kyats per dollar.