Myanmar’s rapid growth won’t rub off on Kyat: ANZ Bank

RANGOON - Myanmar is set to attract strong FDI inflows as the economy gears up to play economic catch-up, but the need for more imports for the country’s development, alongside a stronger USD environment, will ensure that the kyat continues to depreciate against the USD, according to ANZ Bank.

“We forecast USD/MMK to reach 1,100 by the end of 2015, a 6% depreciation. Our year end 2016 and 2017 forecasts are 1,150 and 1,200 respectively,” ANZ says. www.live.anz.com (ATI).