The Republic of the Union of Myanmar

Central Bank of Myanmar

Calls for cooperation for development of insurance companies

Union Minister for Finance and Revenue U Hla Tun called for cooperation in the development of private insurance companies as Insurance Business Supervisory Board had been formed at the seminar for adopting policies for Myanma Insurance and privatization of insurance services held at Myanma Insurance Head Office on 30 April, afternoon.

He also assured that participation of private sector in insurance service would be for the good of the people.

The Union Minister inspected the Insurance Business Supervisory Board Office.

The Meeting was also attended by the Governor of Central Bank of Myanmar U Than Nyein, the director-general of Customs Departmen, officials concerned and staff of Myanma Insuance.

Weighted-average (WA) Market Exchange Rate

MMK per USD - Date 4th December 2020

Reference Exchange rate
(WA market rate)
1,323.6
Interbank Market WA rate 1,323.7
Bank-customer Market WA rate

1,323.4

CBM announces daily Reference Exchange Rate every working day at 4:00 PM, based on deals between 9:00 AM and 3:00 PM.

  • Methodology on determination of Reference Exchange Rate is available here

MMK Exchange rate for other currencies are available here (forex.cbm.gov.mm)

Interest Rate(%)
Central Bank Rate 7%pa
Minimum Bank Deposit Rate 5%pa

Maximum Bank Lending Rate (Secured)

Maximum Bank Lending Rate (Unsecured)

10%pa

 

14.5%pa

Economic Indicators (%)
GDP Growth Rate
2018-2019 FY
(October to September)
6.80 %
Annual Rate of Inflation
(August 2020)
6.43 %
Year on Year Inflation
(August 2020)
1.84 %

     Source : Ministry of Planning and Finance