Falling kyat, rising food prices add to Myanmar’s troubles (The Straits Times)

The Straits Times (Myanmar) published an article stating that Myanmar’s fast-depreciating currency is straining the people in a country gripped by political turmoil following a Feb 1 military coup. The kyat, which was trading at slightly above 2,000 to the United States dollar yesterday, has lost more than a third of its value since the coup. In the months ahead, the kyat’s depreciation may even affect Myanmar’s food supply. An IFPRI report, Monitoring the agri-food system in Myanmar: Food vendors noted that retailers saw an average 48 percent decline in sales of inorganic fertilizers in June, compared with the same period last year. This could reduce the country’s agricultural output this year by 9 percent to 15 percent, it said.