Myanmar’s military-led administration has agreed to accept Thai baht as an official currency in border trade dealings and plans a similar arrangement for use of India’s rupee, seeking to limit the country's reliance on the U.S. dollar in trade.
The State Administration Council said Tuesday that Myanmar began allowing direct currency settlements using the Chinese yuan with its kyat earlier this year. Settlements in Thai baht will be done online according to regulations set by Myanmar’s central bank, it said in a statement.
