The Republic of the Union of Myanmar

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CHAPTER II Establishment and Aim

3. The Central Bank of Myanmar is established under this Law as a legal entity having perpetual succession, capable of suing and being sued in its own name.

4. The Head Office of the Central Bank shall be in Yangon. The Central Bank may open branches and agencies inside or outside the State.

5. The aim of the Central Bank shall be to preserve the internal and external value of the Myanmar currency.

6. The Central Bank shall, in accordance with its aim also endeavour to attain the following objectives: —
(a) to promote efficient payment mechanisms, and the liquidity, solvency, and proper functioning of a soundly based financial system;
(b) to foster monetary, credit and financial conditions conducive to the orderly, balanced, and sustained economic development.

7. In endeavouring for the successful achievement of its objectives in accordance with its aim, the Central Bank shall have, and may exercise all the powers generally conferred upon a central bank.

Date : 20th Oct 2017

 

1362.0 / USD

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Source : forex.cbm.gov.mm

Interest Rate(%)
Central Bank Rate 10% pa
Minimum Bank Deposit Rate 8%pa
Maximum Bank Lending Rate 13%pa
Economic Indicators (%)
GDP Growth 5.90 %
Annual Rate of Inflation 4.70 %
Year on Year Inflation 2.40 %

     Source : Ministry of Planning and Finance