THE Central Bank of Myanmar (CBM) sold over US$400,000 on 9 June after selling $500,000 on 6 June and 364,400 yuan on 5 June.

CBM announced on 4 June that it would sell US$30 million to fuel oil importers. CBM pumped US$422,000, 345,850 yuan and over 2.1 million baht on that day into the forex market.

CBM injected over 600,000 yuan and 2.6 million baht on 3 June, 579,900 yuan and 4.7 million baht on 2 June, over 610,000 yuan and 2.4 million baht on 30 May, after the sale of 4.3 million baht on 28 May into the financial market.

CBM announced on 27 May that it would sell US$30 million to fuel oil im­porters.

CBM aims to curb the instability in the foreign exchange market and cur­rency devaluation. According to CBM’s notification on 15 March, 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