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Byline: Woranuj Maneerungsee
Mar. 1--New restrictions on deposit withdrawals by Burmese banks will not affect border trade with Thailand, according to Panithi Tangphati, adviser to the Tak Chamber of Commerce.
In general, traders did not deposit large amounts of money with commercial banks and the border trade did not rely much on banks, he said.
The Burmese bank association two weeks ago announced a ceiling on withdrawals of 500,000 kyat (about 22,600 baht) per account per week to limit runs on deposits.
The official exchange rate of the Burmese kyat is 6.20 to one US dollar. But in the black market on which most people rely for ...
Source: HighBeam Research, Withdrawal Curbs by Burmese Banks Won't Affect Trade with Thailand.