Post-election, kyat resumes its weakening trend
The kyat weakened against the US dollar this week as the greenback strengthened in international markets and business resumed in Myanmar following the 8 November election.
Fears the election could spur currency volatility have not materialised, indicating a certain level of confidence in political developments and a likely National League for Democracy win.
The US dollar rose in international markets on November 4 in response to US Federal Reserve chair Janet Yellen’s indication of a possible rate hike next month, a Central Bank of Myanmar official said.
