June 1, 2024
Myanmar’s gold price, which had surged to over 5.85 million MMK per tical on May 30, dropped to over 5.6 million MMK on May 31, and further decreased to 5.3 million MMK this morning on June 1.
Foreign exchange rates also saw a decline: the US dollar fell to 4400 MMK, the Singapore dollar to 3030 MMK, the Euro to 4878 MMK, the Thai baht to 114.94 MMK, the Malaysian ringgit to 990 MMK, and the Chinese yuan to 608 MMK.
On May 30, when domestic gold prices reached their peak, 20 gold traders and 12 hundi operators were detained by the Special Investigation Department under the Ministry of Home Affairs for questioning. Additionally, starting from May 30, 74 bank accounts related to hundi operators were frozen.
