The Central Bank of Myanmar (CBM) sold over US$2.3 million to edible oil-importing companies and over US$464,000 to fuel oil-importing companies on 29 December.

CBM announced on 24 December that it would sell US$23 million to fuel oil-importing companies.

Furthermore, CBM sold over $540,000 to edible oil-importing companies and $550,000 to fuel oil-importing companies on that day.

CBM sold over $358,000 to edible oil-importing companies and $349,000 to fuel oil-importing companies on 23 December.

CBM sold over $1 million to edible oil-importing companies and over $653,000 to fuel oil-importing companies on 22 December, in addition to an injection of $30,000 from CMP companies into the market.

CBM sold eight million baht to business entities on 18 December.

CBM made an injection of over $21 million, 2.4 million yuan and 1.5 million baht in November.

CBM injected over $2.48 million, 5.75 million yuan and 4.98 million baht in October, along with sales of over $54 million purchased from CMP companies.

CBM aims to curb the instability in the foreign exchange market and currency devaluation. According to CBM’s notification on 15 March 2024, it has been collaborating with law enforcement agencies to combat and prosecute those who attempt to manipulate the currency market under the existing laws. CBM allowed authorized dealers (private banks) to operate online foreign exchange trading freely as per the market rate, depending on supply and demand, starting from 5 December 2023.

NN/KK

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