If you do not get a token, you either have to queue for hours for the few functioning cash dispensing machines outside or go to black-market brokers who charge big commissions.
“It’s now very difficult to operate a business,” said Hnin Hnin, an entrepreneur in her mid-20s who supplies shampoo and bedsheets to high-end hotels. “Traders don’t accept bank transfers now. They want cash. So we need to find the cash.” It is now almost impossible to get hold of U.S. dollars or other overseas currency at regular exchange centres in Yangon, a dozen people told Reuters. Black-market traders will take online transfers in exchange for physical notes in various currencies, they said, but add a commission of up to 10%.
People want to withdraw cash now to buy food and other essentials, said Horsey, and also because they fear the banking system will collapse.The cash crisis is the most immediate sign of much deeper economic problems facing Myanmar, some experts said. Millions are expected to go hungry in the coming months, the United Nations’ World Food Programme said in an analysis published in April.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why you're seeing long lines at gas stations right nowExperts have urged calm as gas stations report long lines and fuel shortages from Maryland to Florida following a cyberattack on the nation's largest fuel pipeline. Thank you Biden! Did not have this problem when President Trump was in charge! Fake engineered gas shortage lol Biden's Era.
Source: TODAYshow - 🏆 389. / 55 Read more »
Strong U.S. Economy, Stimulus Spurs Migrants to Send Billions of Dollars HomeForeign-born workers sent more than $500 billion back to countries in the developing world last year, as the economic recovery and generous government programs helped sustain a critical lifeline for poor nations still battling the pandemic
Source: WSJ - 🏆 98. / 63 Read more »
Four Financial Mistakes New Startups And Small Businesses Should Avoid In 2021Running out of cash is a one of the key reasons startups and small businesses fail. Don't make these four mistakes. This message should be direct to W.H.O and other bodies concern $PIT PITBULL DOGE 🚀! The Pitbull Shall Soon Take Over The Doge 🚀!
Source: Forbes - 🏆 394. / 53 Read more »
These Clean, All-White Shoes From Adidas and Allbirds Have a Minuscule Carbon FootprintAdidas and Allbirds collaborated to create Futurecraft.Footprint, low carbon-emission running shoes that combine the best of both brands.
Source: POPSUGAR Fitness - 🏆 401. / 53 Read more »
A Georgia man drilled into the fuel tanks of parked U-Haul trucks in an attempt to get gas, police sayDozens of firefighters cleaned up the 'hazardous' gas spill in the rain Wednesday night as police searched for the suspect, officials said. Georgia man seeks Florida man title.
Source: YahooNews - 🏆 380. / 59 Read more »
Egypt delegation in Tel Aviv for ceasefire talksEgyptian delegation in Israel to negotiate a ceasefire in the deadly assault on Gaza, with the UN Security Council set to discuss the recent violence
Source: trtworld - 🏆 101. / 63 Read more »