The recent slump in the Myanmar Kyat raises prices of imported goods from Thailand; particularly vehicles

The recent slump in the kyat has raised the prices of goods imported from Thailand particularly vehicles, said Myanmar traders.

A businessman dealing with a vehicle export-import business said that a car priced at Ks15 million two months ago, based on the baht-denominated value of Bt500,000, is now selling for Ks18 million.

Another importer noted that as the kyat weakens against the baht, in line with its depreciation against US dollar, other Thai goods become expensive and this leads to a decline in trade between the two countries.

Meanwhile, the Japanese used car market has been immune, maintaining demand particularly for Honda Fit and Toyota Probox models. 

The kyat is expected to further slide against the greenback. On July 21, the official reference rate was lowered to a new low of Ks1,240 per dollar, some 50 per cent lower since the country adopted the managed float system in April 2012.

Source: http://elevenmyanmar.com/business/thai-goods-become-more-pricey-myanmar

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