In Myanmar to fix the exchange rate at 1 US$ = 5 Kyat, the government has imposed law stated that for people who buy and sell US dollars at any exchange rate that is different from this rate will be imprisoned in jail for 10 years. However, 3 months later, after the failure of the implementation, the government revoked and gave up the law and let the exchange rate floated at market rate of 1 US$ = 1,320 Kyat. Using the concept about "US dollar reserves at Myanmar central bank" and "US dollar black market", explain the reasons leading to failure of this law!

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