The Republic of the Union of Myanmar

Central Bank of Myanmar

Duties and Responsibilities

Duties and Responsibilities of Central Bank of Myanmar are as follows:

(a)
The Bank takes responsibility as the sole institute in issuing local notes or coins.

(b)
By controlling accounts of Government, the Institute acts as the Bank of the Government.

(c)
Relating with required economic matters of the Government, including Policy & Plannings for Economic Development and State Budget, the Bank acts as an adviser to the Government.

(d)
In issuing Government securities it acts as a representative and adviser to the Government.

(e)
In order to fulfill objectives in conformity targeted aims and intention, it adopts monetary policy and implements the task.

(f)
Gives control and supervision over financial institutions for conducting monetary system firmly and confidently and attaining better development.

(g)
Serves a Bank financial institutions, foreign governments and international organizations.

(h)
Implementation of foreign exchange conversion policy of the State and controls on foreign exchange draw outs and remittances made by government representatives.

(i)
Managing Foreign Exchange Reserves of the State and takes responsibility to maintain a stable competent foreign balance of payment which would enable local residents make international settlements under regular payment.

(j)
Takes responsibility in making settlements that arise out of State involvement in banking, loans and financial sectors of international government organizations, assuring all duties & responsibilities in the name of the Government and making required contacts with those organizations on behalf of the Government.

MMK per USD - Date 8th December 2021

Reference Exchange Rate

1780.0

MMK Exchange rate for other currencies are available here (forex.cbm.gov.mm)

Interest Rate(%)
Central Bank Rate 7%pa
Minimum Bank Deposit Rate 5%pa

Maximum Bank Lending Rate (Secured)

Maximum Bank Lending Rate (Unsecured)

10%pa

 

14.5%pa

Economic Indicators (%)
GDP Growth Rate
2019-2020 FY
3.20 %
Annual Rate of Inflation
(February 2021)
2.61 %
Year on Year Inflation
(February 2021)
1.51 %

    Source :

    Ministry of Planning, Finance and Industry