MOSCOW, January 27The Republic of the Union of Myanmar will begin trading in national currencies with Russia in 2-3 months, said Deputy Chairman of the Myanmar Banking Association To Aung Myint at the II Russian-Myanmar Business Forum on the sidelines of the Russia exhibition-forum.
To Aung Myint noted that Myanmar is “trying to reduce the use of the dollar.”
“We have been doing this for some time — with China and Thailand we use local currencies. Now we are discussing the same measures with the Central Bank of India. Moreover, now we are discussing how to use rubles and kyats instead of dollars,” the agency’s interlocutor replied.
According to him, the same work is being done with Russia — however, to finalize it, the Russian central bank must open an office in Myanmar.
«This will not be a long process. I think it will happen in a short period — a maximum of 2-3 months,» added To Aung Myint.
According to him, the Russian and Myanmar central banks have already signed an agreement under which MIR cards will begin to work on February 20.
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