dollars has grown significantly s ince the military seized power, following a halt in exports and foreign direct investment. dollar appreciates, everything costs more.” dollars during the coronavirus pandemic and, as the U. Almost all medicines ha ve had to be imported and paid for in U. “ Unemployment is quite high. People have no income, but the prices of consumer goods has risen. “ A lot of people have been facing a hard time in the past few months - m any have lost their jobs due to political instability and the COVID- 19 outbreak ,” he said. Soe Tun, a businessman in Yangon, said the rise in commodity prices was the result of a twinned depreciation of the kyat and the appreciation of the dollar.
”Īccording to the housewife, the cost of coffee ha s risen by 50 percent, while prices for condensed milk, cooking oil, and r ice have doubled. “ When prices go up, the sellers can’t provide discounts like they once could. “In the first few months, things w ere not so difficult, but r ecently, the cost of commodit ies has risen out of control, and you can’t buy nearly as much as you could before the coup,” she said. It has yet to present evidence of its claims and public unrest is at an all-time high.Īmid the nationwide turmoil, the cost of basic goods has skyrocketed.Ī housewife in Myanmar’s largest city Yangon, who spoke on condition of anonymity, told RFA ’s Myanmar Service that the depreciation of the kyat and rising food prices are having a severe impact on daily life. The junta says it unseated Aung San Suu Kyi’s National League for Democracy (NLD) government because the party engineered a landslide victory in Myanmar’s November 2020 election through widespread voter fraud. In the more than seven months since, security forces have killed 1,10 8 civilians and arrested at least 6,5 91, according to the Bangkok-based Assistance Association for Political Prisoners (AAPP)-mostly during crackdowns on anti-junta protests.
The cost of a tical of gold (0.578 ounc es) soared to a new record of 1.9 million kyats, up from 1.3 million on the day of the coup. 1, when the military seized power from Myanmar’s democratically elected government.
dollar -its lowest level in history- down from 1,3 30 on Feb.
The value of the kyat fell to 2,200 to the U.S. M yanmar ’s currency reached an all-time low Friday, signaling growing concerns about the stability of a nation beset by civil unrest and teetering on the brink of a full-scale civil war, nearly eight months after the junta orchestrated a coup d’état.
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