THE Central Bank of Myanmar (CBM) announced on 13 August that it would sell US$32 million to those engaged in the fuel oil sector.
CBM injected $1.3 million into edible oil importing companies and over $467,000 into CMP companies and those who made non-trade payments after sales of over 1.97 million yuan on 12 August. Importers of refined sugar, plastic, fertilizers, pharmaceutical and medical equipment, electrical devices, industrial raw materials, construction materials, auto parts, telecommunication devices, trailers, feedstuffs, paint, tar and food commodities also purchased foreign currencies through the foreign exchange market online trading platform.
The Central Bank of Myanmar (CBM) sold $1.18 million to edible oil-importing companies and over $415,900 to fuel oil-importing companies on 11 August after purchasing the foreign currencies from companies working on a Cut, Make and Pack basis.
Furthermore, CBM injected over 65,000 yuan into the market on that day. CBM also sold over $348,000 to CMP companies and those who made non-trade payment transactions. Additionally, importers of refined sugar, pharmaceuticals, pharma raw materials, electrical devices, industrial raw materials, construction materials, auto parts, motorcycle parts, telecommunication equipment, pesticides, tar and food commodities bought foreign currencies via online trading platforms.
CBM injected over 1.46 million yuan and over 930,300 baht on 8 August.
Additionally, CBM sold $701,120 to edible oil-importing companies and $361,921 to fuel oil-importing companies on the same day.
CBM sold over $1.665 million to edible oil-importing companies after an injection of over 56,000 yuan into the market on 7 August.
CBM sold $36.5 million purchased from companies working on a Cut, Make and Pack basis, in addition to the injection of $8.8 million, 13.3 million baht, 10.5 million yuan and 500,000 rupees in July. Furthermore, CBM sold over $2.3 million to other commodities-importing companies as per its initial announcement of selling $10 million. CBM sold $8.4 million, 13.9 million baht and 5.2 million yuan in June 2025, in addition to the injection of $14.9 million that was purchased from the CMP enterprises into the financial market.
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
