Home MMBIZ News Myanmar Has Over $8b in Forex Reserves

Myanmar Has Over $8b in Forex Reserves

The Central Bank of Myanmar last week announced the figure of Myanmar’s foreign exchange and gold reserves at the parliament, state-run media reported. 

Myanmar holds $8.19 billion in foreign exchange reserves and 7.15 tonnes of gold reserves as of October 29, central bank vice-governor Khin Saw Oo told the Pyidaungsu Hluttaw, according to the New Light of Myanmar. 

Khin Saw Oo told the parliament that the 7.15 tonnes of pure gold were kept at the central bank, while the forex reserves are kept at the central bank and local banks in cash, and at foreign banks that have links with their Myanmar counterparts. 

This is the first time in many years that the central bank disclosed such figures to the public.

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