Myanmar reduces percentage of export earnings required to be converted into kyat

15 January 2026

On 7 January 2026, the Central Bank of Myanmar (“CBM”) issued Notification No. 2/2026 announcing a reduction in the proportion of foreign currency export earnings required to be converted into Myanmar kyat from 25% to 15%. The Notification came into effect on 1 January 2026.

The foreign exchange conversion requirement was first introduced by CBM in April 2022. Under this regime, all foreign currency earned by Myanmar residents must be deposited with banks in Myanmar authorised to deal in foreign exchange and converted into Myanmar kyat within one working day of receipt, subject to the applicable conversion percentage prescribed from time to time.

The table below summarises the changes to the mandatory conversion percentage for exporters’ foreign currency earnings since the introduction of the foreign exchange management regime in 2022.