THE Central Bank of Myanmar (CBM) sold over US$2 million pur­chased from companies working on a Cut, Make and Pack basis to edible oil-importing companies and over $464,400 to CMP com­panies and those who made non-trade payments on 8 August, in addition to an injection of over 1.9 million yuan into the market.

CBM sold $2.15 million to ed­ible oil-importing companies and over $449,600 to fuel oil-importing companies on September 5, in addition to injecting 400,000 yuan into the market.

CBM sold over $2.3 million worth of products purchased from CMP companies to edible oil-importing companies on 4 Sep­tember.

Furthermore, it sold over $248,800 to CMP companies and those who made non-trade pay­ments on that day.

CBM announced on 3 Septem­ber that it would inject $30 million into the fuel oil sector.

Moreover, CBM sold over $1.8 million to edible oil import­ing companies and over $32,755 to those who made non-trade pay­ments on that day.

CBM pumped over $1.075 million into edible oil-importing companies on 2 September, fol­lowing sales of over $669,000 to CMP companies and those who made non-trade payments.

CBM sold over $1.6 million to fuel oil-importing companies and over $128,000 to fuel oil-import­ing companies on 1 September through foreign reserve purchased from the companies working on a Cut, Make and Pack basis. Furthermore, CBM inject­ed 800,000 yuan and 300,000 baht into the financial market. CBM also sold over $24,700 to the CMP companies and those who made non-trade payments. CBM sold over $1 million, 11 mil­lion yuan and four million baht in August. Furthermore, CBM also pumped over $32 million, purchased from the companies working on a Cut, Make and Pack basis, 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