The military council has issued twenty thousand kyat banknotes again which they say the country's economy is booming,
The Central Bank of the Military Council announced today, July 23, that twenty thousand kyat banknotes will be issued domestically starting on July 31. These twenty thousand kyats of money were used to commemorate the completion of the MaRaWiZaya statue erected by the military council and the white elephant of Rahta Nanda, designated as a white elephant by the military council.
It is said that it was issued to mark the first anniversary of his birth. In the issue of twenty thousand kyats, a limited number will be issued to replace the old banknotes, and the currently used banknotes will continue to be legal tender.
There are also criticisms that the issuance of new banknotes could cause the kyat to fall in value and increase inflation.
Spring Development Bank Web application (Beta) 2023 During the introduction at the Spring Development Bank's online press conference held on July 20 / / Photo: Spring Development Bank)
At a time when the international community pointed out that the country's economy is in crisis after the military coup, and domestically, the price of goods rose exponentially during the coup, the military leader of the coup continues to say that the economic percentage is increasing, and new banknotes are being issued again.