Re: Cash only in Burma?
- From: "~" <~@nospam.com>
- Date: Wed, 19 Apr 2006 07:02:50 -0400
There are some truth and a lot garbages in mogyothwar's reply
1. Cash only in Burma. Only US dollars, only new currency, what they called
is big head (with bigger Lincoln's picture, whereas old currency has smaller
picture and called as small head) We had one third with small head and found
useless in Buma, Asia and Europe. When I came back, I deopsitted back to
teller in US bank and told her about it. She said all bank tellers know
about it and if you describe for foreign use when withdraw, they will choose
for you.
2. US counterfiet has a series, same nubers. That numbers are called "black
number" series and they will not accept your US Doller if it falls in same
series of number. Counterfeit might looks like the same at first glance, but
just a little though check will easily differentiate. So they look at your
bill thoughly in piece by piece when they accept it. They are 100 dollar
bills. But do not try 20 dollar bills, nobody like it and you will get lower
exchange rate.
3. There is no restriction for Burma / Myanmar passport to open account in
US. There is restrictions (actually interogation, you fill up an extra form)
to all withdraws above $5000. There will be problem to deposit in lumpsum
in cash, say millions. Bank draft and Bankers check are OK.
4. Inside Burma, ther is no Euro seen in market places, offices, airlines
and blcak market exchange places. They said Euro is using only when
government transfer money to foreign country, that is from central bank. I
met some Europeans in Bagan, Burma, they found no use of euros in Burma, but
dollars are in free use.
"mogyothwar" <zizawar@xxxxxxxxxxxxxxx> wrote
Cash only in Myanmar is nothing new. It is up to you to believe it or
not.
It could be true, because Banks in the United States do not honour the
credit cards or cheques or debit cards used in Myanmar. It is a part of
American sanctions against SPDC rule Burma. To destroy Burma, in
peaceful means. They don't encourage anyone to do business with
Burma.They don't want any monies go to Myanmar through private
individual or through business community.
The rumours are even Burmese passports holders and the Burmese
Embassies in US, and Europe find it difficult to open a bank account.
Today, news are also spreading that there are US$ 100 counterfeit bills
allegedly produced in N. Korea are flooding all over the world 98
percent identical to the original US$ bills. We know that N. Korea is
the target of UIS and the west. It has to assume that US may not even
accept some US$.
Here the point is not to accept US $, or we can refuse to accept that
you surrender or to lower the rate of money exchange in the black
markets.
It is also said that foreign Embassies in Burma are not accepting US$
as visa fees or any other fees but only EU and sterling pound or F.E.C
issued by the SPDC.
All monies don't come to Burma through any Banks, they stay where they
are. Every country is worry that all their valuable foreign currencies
will go out without coming back in. Burmese can' t even transfer their
monies through banks to the banks in Burma for their family and
reletives.
So some people including tourists bring in cash into Burma and spend it
in Burma at the street value. Because nobody can go to any bank in
Burma to change their monies. There is no official Bureau de Change in
Burma . As official exchange is K/6 to a dollar, nobody will change
their monies either at Bureau de Change instead they spend it on the
street which now is about K/ 1400.
Among other things Government of Union of Burma (SPDC) may have
considered that this is a part of Money Laundering and it enected a law
to counter it. Well they must have their own reasons and they know what
they are doing.
The consequences may be greater then SPDC has thought.
In the past, there were many actions taken by the governments of
Myanmar to control the money. Not to forget the demonitization again
and again and again of the Burmese Kyats notes.
In Myanmar we say, Khote Yar Ta Char - Sha Yar Ta Char. That is always
been the case in Myanmar.
True, there are many things to look at them from positive point of
view. They may gradually improve our lives, but we can not ignore the
negative side of it either, because it directly and promptly effect our
lives right on the spot before we get better. That is what it counts,
that is the reality. nobody likes it, nobody want to accept it.
" Lar me - Kyar me is out of date. " Yaw Padamyar - Yaw Ngar " is the
Burmese way of doing things. It seems that in the case of Burma Lar De
are too many Kyar De. People are getting used to it?
There will always be a cost to pay for whatever we do.
We all try our best to better our lives and to go forward, but not to
worsen it and going backward.
Mogyothwar.
.
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