Wednesday, February 08, 2006

Myanmar to use euros for trade, replacing US dollars

Myanmar to use euros for trade : HindustanTimes.com mentions that Myanmar, formerly (and often still) known as Burma, will replace the use of the US dollar with the euro for trade with bordering countries.

The article goes on to say:
Myanmar decided Aug 10, 2003, that government organisations and private enterprises should use euros in place of US dollars for international business transactions including import and export.
What's interesting about this is that as recently as November, 2004, when I visited, the US dollar was a completely parallel currency and many hotels would only accept payment in dollars, paid as cash since the use of credit or debit cards wasn't really possible. I seem to remember people actually having problems trying to use euros, even in Rangoon/Yangon.


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