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Bayinnaung Market (Burmese: ဘုရင့်နောင်ဈေး; also Bayintnaung Market), located in northwestern Yangon, is the largest agricultural commodities trading market in Myanmar. Established in 1990, the market complex consists of two-story shop houses with floor areas of 1,200 and 2,400 square feet (110 and 220 m 2 ).
The economy of Myanmar is the seventh largest in Southeast Asia. [6] After the return of civilian rule in 2011, the new government launched large-scale reforms, focused initially on the political system to restore peace and achieve national unity and moving quickly to an economic and social reform program. [7]
The YSX building, located on the corner of Sule Pagoda Road and Merchant Street, formerly housed the Central Bank of Myanmar. [5] The neoclassical structure was designed by G Douglas Smart, and opened in 1939, as the Rangon branch of the Reserve Bank of India , and managed British Burma's financial system, even after its separation from British ...
This situation has happened because the government wants to restrict the price." For years, black market rates for Myanmar's kyat currency have been significantly higher than the central bank's ...
But this OTC market too died in the 1960s when all the firms were nationalized by the military government that seized power in 1962. [ 3 ] Another military government came to power in 1988, and it allowed the state-owned Myanma Economic Bank to form a 50-50 joint-venture with Daiwa Securities in April 1996.
Recently Myanmar's jade industry has expanded substantially in response to increasing demand for the stone in Chinese markets with jade export revenues rising from $150–300 million USD in the early 2000s to US$1.75 billion during the 2010-2011 fiscal year, which accounts for a fifth of Myanmar's total export revenue. [1]
Myanmar, [d] officially the Republic of the Union of Myanmar [e] and also rendered as Burma (the official English form until 1989), is a country in northwest Southeast Asia.It is the largest country by area in Mainland Southeast Asia and has a population of about 55 million.
During much of this period, two valuations of the Myanmar kyat emerged; The official rate which averaged around Ks. 6/- = US$1, and the black market rate which averaged tens of times higher. Foreign visitors to Myanmar could only transact currency in FEC's or could only obtain kyats at the artificially high official rates.