Foreign Bulls and Burmese Bears Spar on Growth

News and updates on business and industry in Myanmar/Burma.
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KoKo
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Joined: Wed Jun 06, 2012 8:05 am

Foreign Bulls and Burmese Bears Spar on Growth

Post by KoKo » Sat Jun 04, 2016 11:47 am

The Burmese kyat has been the best-performing Asian currency against the US dollar so far this year, rising over 10 percent versus the greenback since January. While this trend has excited foreign investors, Burmese analysts remain skeptical about how well the currency’s buoyancy reflects the growth prospects of the real economy.

Bloomberg News reported Thursday that the kyat has outstripped the Japanese yen to claim the title of fastest-appreciating currency in Asia for the first five months of 2016.

“Some foreign observers said the kyat’s appreciation is a sign the economy is growing quickly,” Chit Khine, chairman of Eden Group of Companies, told the Irrawaddy. “But I disagree with that. The economy has been muddling along recently because the government’s economic policies are still unclear.”

Full story: Irrawaddy

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