Many readers keep on asking the same question almost everyday at Bank Negara Malaysia (BNM) official Facebook. Many Malaysian think that with a recent Kyat Myanmar RV, they can gain some profit from their Kyat investment. BNM is not dealing with Foreign Currency Exchange, they're Malaysian Central Bank, not a money changer. For readers who don't understand about the recent RV on 4 April 2012, it only bring the Kyat value to semiofficial free market rate. For a layman, its mean Central Bank of Myanmar is using Kyat real market price used on the street by real Myanmar people, this mean if you have 5000 kyat notes, you will have a value of only 6.11 dollars. If you have 5000 Myanmar Kyat the value will be RM18.64 (Read my post about Kyat Myanmar RV to learn more about the currency exchange for Kyat).
Here are some of the screen shots for BNM statement regarding Kyat:
1. The correct Kyat RV exchange rate is 100MMK=MYR0.3728.
2. 1000 Kyat equivalent to RM3.73.
3. BNM don't buy Kyat Myanmar.
I had been advising people about Kyat Myanmar investment before, it just a way to gain profits for dealer who sell you Kyat Myanmar. No Bank or Money Changer in Malaysia except Kyat Myanmar. Stop dreaming about gaining a quick cash from currency investment lika Kyat and Iraq Dinar. It is a scam by irresponsible dealer who are mostly don't register with BNM (You need to register with BNM to do foreign currency exchange). Maybe one way you can do to gain back your money, is to force the dealers to buy the Kyat Myanmar from you and tell him/her you will report about them selling a foreign currency without license. You can contact BNM to make a report at:
BNMTELELINK
Jabatan Komunikasi Korporat
Bank Negara Malaysia
P.O.Box 10922
50929 Kuala Lumpur
Tel: 1-300-88-5465 (LINK)
Fax: 03-2174 1515
E-mail: bnmtelelink@bnm.gov.my
BNMLINK and BNMTELELINK operating hours are from:
Monday - Friday, 9.00 a.m. - 5.00 p.m.
