Friday, 06 April 2012 14:32
Foreigners or citizens may now bring up to US$ 10,000 into Burma without declaring it at customs on arrival, effective April 1.
Previously, foreigners or local citizens bringing in an amount of more than $2,000 had to declare it at customs on arrival at the airport, according to a statement by the Burmese Central Bank.
Meanwhile, the Central Bank has announced the adoption of a managed floating foreign exchange rate regime, saying the rate will be publicized daily by the bank.
As part of the government's reform program, various exchange rates are being unified, aimed at the gradual elimination of restrictions on current international payment and transfer abroad.
The Central Bank is working together with domestic and international agencies to ensure a smooth change.
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