Myanmar's currency system has been introduced by the military junta, which presents significant challenges for foreign-exchange traders.
The local currency, the kyat, is known for its high volatility and low liquidity, making it difficult for traders to maintain profitable positions.
It has been reported that most foreign-exchange traders in the region face losses due to the competitive nature of the market. However, there is one trader based in Myanmar who has achieved an impressive 22% return over a few years of experience in this challenging environment.
This trader's success is notable, especially considering the difficulties faced by many in the foreign-exchange market. It is worth mentioning that this trader's success is in a backdrop where counterparties have limited influence over trading outcomes, highlighting the unique dynamics of Myanmar's financial landscape.