The g.vine appears to be correct, in that the regime is trying to move
to euro-denominated international transactions. Not clear how that may
affect the exchange rate for dollars.
The big deal right now is that credit cards are not being accepted, even
at pricy hotels, so all bills have to be settled in hard currncy cash.
On 16 Aug 2003, USC wrote:
> I've heard through the Burmese "g. vine" that the US Dollar - along
> with the FEC - is going to soon be de-valued, with the new foreign
> currency of choice to be the Euro (or the Singapore Dollar/Japanese
> Yen if both parties to a transaction agree.) This move is supposedly
> in response to US economic sanctions prohibiting imports from Burma.
> This could complicate my planned trip to Burma in October. Has anyone
> who's recently returned from Burma had any first-hand troubles with US
> Dollars over there?
>
> USC
>
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