Due to the stronger Myanmar Kyat rate against the Chinese Yuan, the motorbike market in the city Lashio in Northern Shan State has become more active.
Motorbikes are imported into the country from the Chinese city of Kyel Gaung, then the Road Transport Administration Department issues license for the imported motorbikes every Wednesday.
“Last month, the market went flat. Now the Yuan rate against the Myanmar Kyat has eased and the market has regained momentum,” Ko Phat, a motorbike dealer in Lashio, said.
Due to the stronger Yuan Rate against the Myanmar Kyat in September this year, motorbike prices went up which slowed down the market.
“Now, the Yuan rate has eased, so motorbike prices have evened out though not significantly. The price just dropped by approximately K4,000-5,000 per day,” U Win Zaw, another motorbike dealer in Lashio, said.
Lower Yuan Rate brings down motorbike prices by around K20,000 for lower tier bikes with a price of K300,000-400,000 and by 30,000 for higher end bikes with a price of K600,000 and above.
The Yuan Rate against Myanmar Kyat is K230 per Yuan in September and dropped to K 217 per Yuan in October.