Myawady – Prices of products from Thailand in Myawady market are rising as Thai Baht exchange rate skyrockets and thus, market activities have grind to almost to a halt.
“We have only sold a low number of motorcycles due to exchange rates. Although most motorcycles are from Thailand, some of them are made by Vietnam and Laos,” said a trader selling brand new motorcycles.
“The prices of motorcycles rose as we bought them using baht and sold them with kyats. The buyers have to pay 30,000 or 40,000 kyats or more for each. Besides, trading had almost stopped as flood had also occurred,” said Nyunt Thein, a trader selling used motorcycles.
Gold prices have reportedly reached to 840,000 kyats per Kyattha (about 0.016 kg) for Thai gold and 942,000 kyats per Kyattha (about 0.016 kg) for Myanmar gold in Bayintnaung market and downtown areas of Myawady.