YANGON, April 21 (Xinhua) -- The Central Bank of Myanmar (CBM) exempted some foreign organizations, including international airlines, from compulsory conversion of foreign currencies into kyats.
According to a statement issued by the central bank on Wednesday, Myanmar Investment Commission (MIC)-approved foreign direct investment projects and businesses operating in the country's Special Economic Zones no longer need to compulsorily convert their foreign currencies into kyats.
Foreign diplomats and their families from the embassies in the country, foreigners working for the embassies, the United Nations and other development agencies, international civil society groups and Myanmar nationals with laissez-passers were also exempted from compulsory conversion.
Myanmar's national flag carriers and Myanmar nationals-owned international airlines are not required to convert their foreign earnings.
The CBM earlier this month ordered anyone living in the country to convert their foreign currencies into kyats within one working day. ■