This is Asia’s best currency to date this year

SINGAPORE (BLOOMBERG) – Myanmar’s kyat has become Asia’s top currency of 2016, a clear sign the nation is starting to emerge from decades of isolation.kyat3

Spurred by Aung San Suu Kyi’s victory in the country’s first open elections since 1990, the kyat is up more than 10 per cent, finally on track for an annual gain after falling every year since a managed float in 2012.

A series of reforms has revitalized Myanmar’s economy and society since the military junta was officially dissolved in 2011, and the nation’s opening-up has accelerated since Suu Kyi’s National League for Democracy party won elections in November. Cash is pouring in now, laying the foundations for further appreciation.