Central Bank revokes licences of 13 forex firms (see reasons)

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The Central Bank of Myanmar (CBM) has announced the revocation of licences from 13 foreign currency exchange companies.

This decision was made during a meeting of the central bank’s executive committee on Monday, following the companies’ failure to comply with the bank’s rules and directives.

This move came after a similar action taken last month when the central bank also revoked licences from 10 forex companies for not adhering to its established rules and directives.

The central bank’s reference exchange rates on Monday stood at 2,100 kyats per U.S. dollar, 2,299.7 kyats per euro, and 289.23 kyats per yuan, respectively.

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