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