YANGON: The Central Bank of Myanmar has stated that rumours about the 20,000-kyat banknote are being spread with the intention of destabilising the economy and manipulating commodity and foreign exchange markets.
In response to inquiries regarding the actual circulation of the 20,000-kyat banknote, the Central Bank clarified that the rumours were part of a scheme to manipulate prices of goods, foreign currencies including the dollar, and disrupt the stable currency and gold markets. These actions are allegedly aimed at creating economic chaos within the country.
The Central Bank emphasised that it has repeatedly issued official announcements to clarify the matter concerning the 20,000-kyat banknote and urged the public not to believe or spread unfounded rumours.
Additionally, it highlighted that this period is typically marked by the circulation of false rumours about foreign exchange rates to manipulate the market. To address this, the Central Bank is actively selling foreign currencies to importers through the FX Market Online Trading Platform and regularly publishing exchange rates, transaction volumes, and reference rates on its official website.
Regarding gold prices, the Gold Reference Price Determination Committee publishes daily updates in newspapers. Authorities have warned that sellers who exceed these prices will face legal action.
The Central Bank further stated that it is collaborating with relevant authorities to identify and take action against those spreading fake news and rumours aimed at harming the public. It also urged people to verify information about the dollar and gold prices before engaging in any transactions to avoid falling victim to misinformation. - Eleven Media/ANN
