YANGON, Sept. 28 (Xinhua) -- Domestic gold price has reached its new highest record of over 2.22 million kyats (932.7 U.S. dollars) per tical on Tuesday afternoon, according to market data released by the Yangon Region Gold Entrepreneurs Association.
Tuesday's domestic gold price hit a fresh record this year after it was recorded high at 1.9 million kyats (798.3 U.S. dollars) per tical on Sept. 11.
The domestic gold has continued surging from the lowest record of around 1.3 million kyats (547 U.S. dollars) per tical in March this year, according to the market data.
Meanwhile, U.S. dollar has been appreciating against Myanmar kyat this month, with 2,380 kyats per dollar in local market on Tuesday afternoon while the Central Bank set the rate to 1,755 kyats versus one U.S. dollar.
The devaluation of Myanmar kyat continues despite the Central Bank's sales of 63 million U.S. dollars' notes to the market to cope with demand this month.
Earlier this month, the bank abolished a rule which kept the exchange rate of Myanmar kyat against U.S. dollar within 0.8 percent of the Central Bank's daily reference rate. Enditem
