The surprise decision to fix the rate of the kyat has harmed the competitiveness of Myanmar’s rice exports, traders say, and orders from abroad are already beginning to decline.
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It’s been more than nine months since Rakhine State plunged into an even darker chapter, when attacks by the Arakan Rohingya Salvation Army prompted a brutal army crackdown that has seen 700,000 people – overwhelmingly Muslims who identify as Rohingya – flee over the border into Bangladesh.
Zaykabar chairman U Khin Shwe has written to his powerful relative by marriage, who is close to the state counsellor and heads a high-level commission, to appeal the postponement of work on a big mixed-use project in Yangon.