webfact Posted October 21, 2019 Share Posted October 21, 2019 Thailand, Myanmar agree to use baht, kyat for cross-border payments By The Nation Right to left: Veerathai, U Soe Win and U Kyaw Kyaw Maung Veerathai Santiprabhob, governor of the Bank of Thailand, and his Myanmar counterpart U Kyaw Kyaw Maung, signed two memoranda of understanding (MoU) on October 18 during the IMF-World Bank meeting in the US. The signing was witnessed by Myanmar’s Minister for Planning and Finance U Soe Win, according central bank statement on October 21. The two MoUs are as follows: 1) Collaboration to promote the use of the Myanmar kyat and the Thai baht for cross-border payment and settlement between the two countries; and 2) Cooperation in the areas of financial innovation and payments systems, which aims to enhance collaboration on financial innovation and payment services to promote more efficient and secure domestic and cross-border fund transfers. The Bank of Thailand has been promoting the use of baht and other local currencies in the region as part of its efforts to curb the strengthening of the Thai currency. Source: https://www.nationthailand.com/business/30377618 -- © Copyright The Nation Thailand 2019-10-22 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
bluesofa Posted October 22, 2019 Share Posted October 22, 2019 4 hours ago, webfact said: Thailand, Myanmar agree to use baht, kyat for cross-border payments What did they use before? Just reading the headline gives me the impression of stating the bleedin' obvious. Link to comment Share on other sites More sharing options...
PatOngo Posted October 22, 2019 Share Posted October 22, 2019 13 minutes ago, bluesofa said: What did they use before? Clam shells? Link to comment Share on other sites More sharing options...
mikebell Posted October 22, 2019 Share Posted October 22, 2019 Doesn't seem like a good deal for Myanmar given the strength of the baht? Link to comment Share on other sites More sharing options...
Thomas J Posted October 22, 2019 Share Posted October 22, 2019 9 hours ago, webfact said: Thailand, Myanmar agree to use baht, kyat for cross-border payments Boy that is breaking news. I would have thought they would have used Rupee and Pesos Link to comment Share on other sites More sharing options...
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