Sunday 13 January 2013

First private official exchange counter opened in Myawaddy

First private exchange counter, Today Top Star Exchange Counter is opened in Myawaddy near the Friendship Bridge at Myanmar-Thailand border in 9, January, according to sources.
Myawaddy trade market, money market and retail and whole sales centers are being depended on illegal small scales exchange counters to do business, and the new exchange counter is the first and official.


Although the exchange counter followed the supervision of Central Bank of Myanmar, it will also practice the trend of current market.

“We often heard that locals are in trouble with illegal money counters in financial cases. Our counter is an official exchange counter. Locals can confide in our counter because the rate has been assigned by Central Bank of Myanmar,” the in-charge manager of an official exchange counter said.

After Central Bank Law has been enacted, the government allowed Pho Yazar Company and Today Top Star Company in Yangon and Myawaddy respectively as foreign exchange counters. Today Top Star will be sold FEC (1 FEC=1US$), Singapore dollar and Euro besides Thai Baht with the daily price allocated by the Central Bank of Myanmar.
 
source: Eleven Myanmar

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