Central Bank of Myanmar limits cash withdrawals

02 March 2021
Central Bank of Myanmar limits cash withdrawals
A man withdraws cash from an ATM machine in Yangon, Myanmar. Photo: Nyein Chan Naing/EPA

The Central Bank of Myanmar is limiting cash withdrawals from banks and ATMs, Bloomberg reported Individuals will not be allowed to withdraw more than 2 million kyat ($1,406) from their bank accounts from Monday while businesses will be allowed to withdraw up to 20 million kyat a week, according to a directive signed by the central bank’s Deputy Governor.

ATM cash withdrawals will be capped at 500,000 kyat a day, half of the previous daily limit of 1 million kyat.