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Managed Floating Exchange Rate Is Conducive To Investment In Hong Kong'S Textile Industry

2012/4/5 13:36:00 15

China

Domestic exports of textiles are quite competitive in terms of price and quality, but in recent years, such as RMB appreciation, labor shortage and weak purchasing power in Europe and America, Hong Kong businessmen and mainland businessmen investing in the mainland have been seeking cheaper productivity in Southeast Asia and productive potential countries.

Burma is one of the hot spots.

However, the exchange rate of Burma has always been the focus of attention. Burma's foreign exchange entry and exit must be handled through official banks or designated private banks.

The main reason for the local exchange rate instability is the export of natural gas, minerals, oil and so on, which involve a large number of foreign exchange settlement.

The central bank is aware of this problem, so the world bank has been asked to help.

Finance

Reform.

The Central Bank of Burma announced that since April 1, 2012, Burma will carry out a unified managed floating exchange rate between the current official black market rate and the black market rate.

The exchange rate between Burma KYAT and foreign currency will be foreign exchange.

market

In terms of supply and demand, the Central Bank of Burma will publish a reference rate every day, and the Central Bank of Burma will carry out exchange rate management at the top 2%.

The reform of exchange rate policy removes the biggest obstacle to Burma's economic development over the past decades.

Burma officials are expected to announce more exchange rate amendment measures after April 1st, including measures such as easing foreign exchange control and international payments.

The Burma government has compiled some of its budgets in the fiscal year 2012-2013 since April 1st, which has been converted to 800 Kyat with us $1.

The biggest impact will be Burma's state-owned enterprises.

Burma's double track exchange rate has existed for decades. The official exchange rate has been pegging IMF special drawing rights SDR (currently about 1 US dollars to 6.4kyat) for decades, while the black market (exchange rate of about 1 US dollars is 800 Kyat). From April 1st, the managed floating rate of the central bank of Burma is expected to be close to the market exchange rate, and about 1 US dollars to 820 Kyat.

The implementation of managed floating exchange rate is conducive to investment, including the investment and installation of Burma textile and garment industry.