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February 26, 2018

Dollar hits record high on 14th November

A man shows US hundred dollar bills at a money changer in Yangon.
A man shows US hundred dollar bills at a money changer in Yangon.

The dollar price hit record high on 14th November, reaching over Ks1,306 per dollar, according to the black market.
In the global market, the US dollar index was 99.52, which is 0.5 per cent higher when compared to that on 12th November. The dollar rallied against other hard currencies. The euro paused its decline against the dollar and rose to a session high of US$1.0770, after having reached US$1.0708 on Monday. Meanwhile, the pound reached an early session high of US$1.2528 before sliding to US$1.2463. The yen price is USD107.78 per dollar in Tuesday.
The US exchange rate in the market slipped to Ks1,285 per dollar on 9th November and rose to Ks1,288 per dollar. The dollar price has been on the rise since 10th November. Exchange rates for a dollar were Ks1,293 on 10th November, Ks1,299 on 11th November, Ks1,302 on 12th and 13thNovember and Ks1,306 on 14th November, it is learnt from the currency exchange black market.
Nonetheless, the Central Bank of Myanmar set USD exchange rate at Ks1,285 on 15th November.
Global gold prices hit a five-month low of US$ 1,211.38 an ounce on Monday. The domestic gold price has dropped back to over Ks855,000 per tical in keeping with the fall in global gold price. The global gold price rose to US$1,337 per ounce on 9th November. The global gold prices per ounce were over US$1,280 on 10th November, over US$1,250 on 11th November and over US$1,220 on 12th and 13th November.


Mon Mon


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