Burma - Foreign Exchange ControlsBurma - Foreign Exchange
Myanmar’s foreign exchange regulatory framework has evolved substantially since 2011. In order to ease its stringent foreign exchange controls, the Government of Myanmar enacted a new Foreign Exchange Management Law (FEML) in 2012. The FEML liberalizes transfer payments related to current account transactions, though transfers related to capital accounts remain conditional. The application of the new law in practice continues to evolve. However, companies registered under the new investment law are guaranteed the ability to repatriate investment and profits in the foreign currency in which such investments were made, subject to the approval of Myanmar Investment Commission (MIC).
The Central Bank of Myanmar established a managed float of Myanmar kyat in April 2012 with an initial auction at 818 kyat per one U.S. dollar. As of June 2019, the kyat was trading at about kyat 1520 per one U.S. dollar. For more information, please see the Investment Climate Report.
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The Central Bank of Myanmar established a managed float of Myanmar kyat in April 2012 with an initial auction at 818 kyat per one U.S. dollar. As of June 2019, the kyat was trading at about kyat 1520 per one U.S. dollar. For more information, please see the Investment Climate Report.