Kyat plummets as rubber-stamp parliament OKs regime borrowing

October 16, 2026

Less than a day after the regime-backed Union Parliament approved plans to borrow 2.1 trillion kyats from the Central Bank and secure an export loan from Belarus, the U.S. dollar surged to nearly 4,800 kyats on the unofficial market, according to currency dealers.

From around 4,600 to the dollar on Wednesday, Myanmar’s currency weakened to approximately 4,750 kyats by noon on Thursday. It also fell against the Thai currency, reaching 136-137 kyats per baht.

The junta-controlled Central Bank has set an official exchange rate of 2,100 kyats per dollar.

Foreign exchange dealers said fears that the regime may print more money to cover its budget deficit through Central Bank borrowing could be driving the kyat’s depreciation. (Photo: AFP)
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