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Blockade, demonetisation sqeezes trade on India-Myanmar border
Morung Express | IANS | Imphal, November 27
The legalised border trade among tribals on the India-Myanmar international border continues to be hit by the blockade the United Naga Council has imposed since November 1 against Manipur, as well as the demonetisation by India.
Ibopishak, a trader, said: “Myanmarese traders earlier freely accepted Indian rupees for transactions at Namphalong and Tamu (in Myanmar), at the locally fixed (illegal) foreign exchange rate of Rs 100 for 1,900 kyat (Myanmar currency). However, after the demonetisation, it has fallen to Rs 100 for 800 kyat.”
The banks and the only two automated teller machines at Moreh are dry of cash for the last few days.
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* This Post is uploaded on 28 November, 2016
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