Central Bank of Myanmar Warning: Beware of Rumors Regarding 20000-Kyat Note and Market Manipulation
Recently, the Central Bank of Myanmar issued a warning about rumors circulating regarding the 20,000-kyat banknote. The bank stated that these rumors are malicious attempts to disrupt the economy and manipulate commodity and foreign exchange markets.
Responding to questions about the actual existence of the 20,000-kyat banknote, the Central Bank clarified that these rumors were part of a deliberate scheme to influence prices of goods and foreign currencies, including the dollar. The goal appears to be to create chaos and instability in the country’s economy.
The Central Bank emphasized that it has consistently issued official statements to address the situation and urged the public not to fall for or propagate baseless rumors.
In light of ongoing efforts to manipulate the market, particularly in terms of foreign exchange rates, the Central Bank disclosed that it is actively involved in selling foreign currencies to importers through the FX Market Online Trading Platform. Moreover, the bank regularly updates exchange rates, transaction volumes, and reference rates on its official website.
In relation to gold prices, the Gold Reference Price Determination Committee releases daily updates in newspapers. Any sellers crossing the specified prices will face legal consequences.
Collaborating with relevant authorities, the Central Bank is working to identify and take action against individuals involved in spreading false information and rumors with harmful intentions. It urged the public to verify details about dollar and gold prices before engaging in any transactions to avoid falling prey to misinformation.
