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Comment: Investing in the Kyat
Investing in the Kyat
Does anyone know how to invest in the myanmar currency? Does Jim basically mean exchange USD for the Kyat? It seems that right now you can get 800 kyat for 1 USD on the blackmarket. If the currency was to strengthen over the next couple of years it would make a decent return.
If that's the case, then how the hell do you own the Kyat? Do you have to fly to Burma, make a trip out of it, and import the currency? I know just recently the country open up it's borders to foreign investment. I would like to know if anyone is thinking about this, and also how much Kyat you could bring back into the states. Would you have to pay taxes on the currency? Looking forward to everyones reply...
PS, I am a firm believer in precious metals, so let's not get into a debate about how all fiat returns to zero. I am just looking for the short term as the dollar continues to weaken.
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