July 26, 2023
After the official announcement about the issuance of twenty thousand kyats denominations, according to residents, the commodity prices have been rising in the border town of Payathonzu in the Karen State.
a local woman stated that the prices of some essential goods, including rice, have risen in the border town of Payathonzu since July 23.
“Rice which used to be 1,500 (baht) per bag, but now it’s 1,800 (baht).
The price of oil, salt, and seasoning powder has also risen up.
“The seasoning powder used to be 100 (baht) per kilo, but now it has risen to almost 200 (baht). Onions which used to be 30 (baht) per kilo, but now they are more than 40 (baht) or less than 50 (baht) per kilo,” she reported.
Moreover, another residents mentioned that the price of commodities is steadily rising and the price of rice is significantly increasing than others.
6 pyi of one bag costs up to 390 (baht) representing an increase of 30 to 40 baht per bag. “I don’t know why I don’t buy big bags,” he said.
Following the news of the issuance of 20,000 kyat, the value of the Burmese currency dropped, and some currency exchange operators in Payathonzu stopped working and refused in making exchanges.
Another local woman also said, “Now they don’t even exchange money from Myanmar Kyats to Thai Bahts. Even yesterday, I went to exchange operators but they refused to make an exchange .”
In addition, after this news came out, the potential impacts of the new notes were widely shared on social media.
Not only in Payathonzu but also in the border town of Myawaddi, some currency exchange businesses were stopped, and almost the entire country of Myanmar has seen such a rise in commodity prices.
Currently, the lowest denomination banknote is 50 Kyats and the highest is 10,000 Kyat. The value of Myanmar’s official currency has been slowly depreciating since the 2021 coup.
There have been ongoing conflicts between the Military Council Army and the KNLA in the Myawaddi Township, Kawkareik Township, Kyar Inn Seik Gyi Township, Hpapun Township and Than Daung Gyi Township from the Karen State, and only in some areas of Hpa-An Township and Hlaing BweTownship, the military situation between the two sides is still tense.
News – Naw Phu Phu
Figure – Cj
Phar Si Than (People’s Radio Myanmar)