Myanmar Customs Dept releases exchange rates for Customs tariff
Customs Department announced weekly foreign exchange rates to be practised in collecting Customs tariff and a US dollar is set to be exchanged at K3,587.5.
This notification 90/2024 of the Ministry of Planning and Finance stated that Customs Department will amend the weekly exchange rate as per the online trading rate, instead of the rate based on the reference rate of the CBM, while collecting Customs tariff starting from 1 January 2025.
Moreover, the weekly exchange rate based on online trading rate will be posted on the website and Facebook page of the Customs Department on a weekly basis, the notification revealed.
The Central Bank of Myanmar’s reference exchange rate is K2,100 against the US dollar.
The exchange rates for Customs duty from 5 to 11 January are K3,587.5 against a US dollar, K2,641.8025 for a Singapore dollar, K104 against a Thai baht and K491.5075 for a yuan, Customs Department announced. — NN/KK
