official foreign exchange rate
official foreign exchange rate
官方外汇汇率
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The country's current foreign-exchange system, which involves a fixed "official" exchange rate that makes the currency, the kyat, more than 100 times as valuable against the dollar as the black-market rate, is so confusing that many foreign companies have refused to re-enter the country even if Western leaders ease sanctions against Myanmar, the country also known as Burma, as expected later this year.
WSJ: Myanmar Announces Currency Reform
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Furthermore, Burma's grossly overvalued official exchange rate distorts economic activity and heightens the risks and challenges for foreign investors.
BBC: Investors eye resourceful Burma
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The government has abolished jail terms for those caught dealing in foreign currency, offered extra incentives for private investment and brought the official exchange rate closer to the black-market one.
ECONOMIST: Syria
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