Unprecedented!The market price in Yangon, Myanmar** is higher than the outside market price
The market price of Yangon** released by the Yangon Provincial Business Association (YGEA) in Myanmar is nearly 20,000 kyats higher than that of the external market**.
On December 27, YGEA released Yangon** with a market price of 1A 3,724,300 kyats, while the external market** was 1A 3,705,000 kyats.
From December 5, after the central bank under the State Management Commission approved that the US dollar could be traded at the market exchange rate, the market price of Yangon began.
Some traders pointed out that the market price of Yangon released by YGEA was already higher than that of the external market on December 26. This phenomenon may be related to the accounting of the exchange rate of US dollar transactions in the central bank's network trading system.
On 27 December, the US dollar exchange rate in the central bank's network trading system was between 1 to 3,300 3,400 kyats. At the same time, the international gold price is also constantly **, and the international gold price on December 27 was $2,066 per ounce.
The president of the Yangon** Business Association explained that the Yangon** market price is calculated according to the international gold price and the US dollar exchange rate. Therefore, due to the calculation of the international gold price and the US dollar exchange rate in the central bank's network trading system, the market price of Yangon has been reduced.
Myanmar** jewelry began to enter the international market
U Miao Minh, chairman of the Yangon Provincial Association of Entrepreneurs (YGEA) in Myanmar, said that Myanmar's first-class finished jewelry has begun to enter the international market.
At international exhibitions, Myanmar's ** jewelry inlaid with jade and jade gemstones began to attract the attention of the international market.
Wu Miaoming revealed that Myanmar's ** not only exports to Japan and Asian countries, but also exhibits and sells at exhibitions in China, the European Union and Dubai, and has successfully transacted.
These jewelers set rubies, sapphires, jadeite and other gemstones on **, and then export them to the international market for sale. In addition, necklaces, bracelets, bracelets, beads and other ** jewelry are also often displayed at exhibitions and obtained**.
Due to the impact of the new crown epidemic and national political problems, Myanmar's ** exports came to a halt for a while, and it was not until the end of this year that exports began again. At present, the export of finished ** jewelry has obtained tax exemption, so it has been valued and is being vigorously promoted.
Wu Miaoming said that Myanmar's first-class industry is gradually recovering, and efforts are being made to open up the international market. This is of great significance to Myanmar's economic development and the upgrading of the industry.