Myanmar launches new currency system Monday: bank source

YANGON (Reuters) - Myanmar will launch a new currency regime on Monday that will bring in a managed float of the kyat, a senior banker said, outlining the boldest economic reform yet as a civilian government opens up the country after years of isolation. The Central Bank of Myanmar (CBM) has published little so far about the new system. It has announced that the currency regime would change from April 1, which is the start of a new fiscal year but also a Sunday, when commercial banks are closed. The CBM is expected to announce a reference rate for the kyat against the dollar at around 9:30 ...

Source: http://news.yahoo.com/myanmar-launches-currency-system-monday-bank-source-100505666.html

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