Gold products are displayed at a jewelry shop in Yangon, Myanmar, Sept. 6, 2019. Myanmar's domestic gold price unprecedentedly reached its highest record of 1.3 million kyats (843.8 U.S. dollars) per tical this year as the U.S. dollar continues appreciating against the kyat on Thursday, according to the latest market prices. (Xinhua/U Aung)
YANGON, Sept. 5 (Xinhua) -- Myanmar's domestic gold price unprecedentedly reached its highest record of 1.3 million kyats (843.8 U.S. dollars) per tical this year as the U.S. dollar continues appreciating against the kyat on Thursday, according to the latest market prices.
Thursday's domestic gold price has surged by about 238,000 kyats (153.5 U.S. dollars) from when it was recorded at 1.07 million kyats (690 U.S. dollars) per tical in Jan. 5 this year.
"U.S. dollar appreciation causes dramatic hike of Myanmar's domestic gold price," U Myo Kyaw Kyaw, owner of Kaung San Gold Shop, told Xinhua.
Meanwhile, the exchange rate in local market has been scaled up to over 1,550 kyats against one U.S. dollar as of Thursday evening.
