Reuters-Tension pushes Myanmar kyat (r)

[enmasse_1@xxxxxxxxxxx]

Re: Reuters-Tension pushes Myanmar kuats to record lows
=======================================================

It's now eight days away from the deadline to convene the parliament in 
Burma. Not only the Burmese Kyats falls to its record lows, the 
reputation of the SPCD also falling very rapidly almost near the
ground level.

>International pressure on the government was also stepped up on 
Thursday as
>a U.S. lawmaker headed for Asia to try to secure the release of 18 
foreign
>activists detained in Yangon on Sunday for distributing pro-democracy
>leaflets. 

1. SPDC is now under extreme pressure from four ASEAN nations,
   Thailand, Malaysia, Philipines, Indonesia and Australia and the 
   US seeking the release of their 18 citizens (activists) who were 
   detained in Rangoon on 9 August.

2. ARCO withdrew from Burma.

3. A roadside standoff 'No. 4' between opposition leader Daw Aung
   San Suu Kyi and security guards entered its second day. 
   Daw Aung San Suu Kyi, a member of her National League for 
   Democracy (NLD) party and two drivers were stopped by police on
   Wednesday on their way to see supporters in Pathein, 190 km (120
   miles) west of the capital.

4. 
5.  

    

>From notes@xxxxxxx Thu Aug 13 08:00:37 1998
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>Date: 13 Aug 1998 07:06:22
>Reply-To: Conference "reg.burma" <burmanet-l@xxxxxxxxxxx>
>From: hlaing@xxxxxxxxxxxxxx
>Subject: Reuters-Tension pushes Myanmar kyat to record lows
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>Tension pushes Myanmar kyat to record lows 
>09:04 a.m. Aug 13, 1998 Eastern 
>
>YANGON, Aug 13 (Reuters) - Increasingly strained ties between the 
ruling
>military and the opposition National League for Democracy (NLD) pushed 
the
>Myanmar kyat to record lows on Thursday, currency dealers said. 
>Currency dealers in Yangon said the kyat fell to 384 versus the dollar 
and
>to 365 against Myanmar's dollar-based Foreign Exchange Certificate 
(FEC)
>from its previous lows of 380 and 360 respectively on Wednesday. 
>``The relations between the government and the opposition have a 
powerful
>impact on the market as it can cause immediate panic among dealers and
>traders,'' one currency dealer said. 
>Dealers attributed the kyat's sharp setbacks in the past two days to 
panic
>dollar buying by speculators. 
>Myanmar's military rulers faced pressures from inside and outside the
>country as a roadside standoff between opposition leader Aung San Suu 
Kyi
>and security guards entered its second day. Suu Kyi, a member of her
>National League for Democracy (NLD) party and two drivers were stopped 
by
>police on Wednesday on their way to see supporters in Pathein, 190 km 
(120
>miles) west of the capital. 
>International pressure on the government was also stepped up on 
Thursday as
>a U.S. lawmaker headed for Asia to try to secure the release of 18 
foreign
>activists detained in Yangon on Sunday for distributing pro-democracy
>leaflets. 
>FECs were introduced in February, 1993, each at a par value to one U.S.
>dollar, mainly for the convenience of foreign visitors who refused to
>accept what they regarded as an unrealistic official exchange rate of 
6.39
>kyat per dollar. 
>
>
>
>
>
>


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