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Myanmar starts slow depreciation of kyat

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MONEY MATTERS: Myanmar introduced a managed float of the kyat in 2012 to try to end the disparity between official and unofficial exchange rates.

Yangon

MYANMAR'S central bank has started a slow depreciation of its kyat currency in an effort to stabilise fluctuations by bringing the official exchange rate closer in line with the market rate, a senior central bank official said on Thursday.

The move, effective since Monday,