By MPA 003
Thai-Myanmar money transfer businesspeople are grumbling because the rate of Thai baht is changing within hours.
Due to the rise in the rate of Thai Baht, Thai-Myanmar money transfer businesspeople are not making any profit, and they are in a situation where they have to stop their business.
“The baht rate changes four times a day. Yesterday, it was one thousand one hundred forty baht for one hundred thousand Myanmar Kyats. This morning, it was changing from over one thousand three hundred to one thousand two hundred. It’s annoying,” said a Thai-Myanmar money transfer businessman.
It is said that the remittance service has not made a profit due to the fact that agents who work in remittances go to the villages in Karen State and have to pay car fuel and road tolls when they pay money to the people concerned.
It has been investigated that it is wrong that one thousand Thai baht is worth one hundred thousand Myanmar kyats, which is currently circulating online, and because of such rumours, the residents of Myawaddy no longer hold Myanmar kyats, but mainly rely on Thai baht.
A Thai-Myanmar money transfer businessman told the MPA that this is the first time and the worst that the price of the Thai baht has risen.
““It’s unheard of rates in the money transfer industry. It happened last year. It’s up to more than one thousand four hundred. This year is the worst. I don’t even know what to do anymore,” he continued to explain.
Last August 13th, an incident occurred where the terrorist SAC troops arrested Thai-Myanmar money transfer counters near No. (1) Thai-Myanmar Friendship Bridge, Ward No. 3, Kyan Khin Street, Myawaddy City, on the pretext of speculation in the exchange rate.
It is said that about twenty currency exchange counters and all Thai and Myanmar cash were confiscated by the terrorist SAC troops.
Currently, there are also those who have been released and those who have been arrested.
On August 15th, due to the fighting in Kokkareik town, the Myawaddy – Kokkareik Asia Highway was closed, and Thai-Myanmar money transfer businesspeople, who had to go to the villages once a month to send money, had difficulties in sending money.