THE Central Bank of Myanmar (CBM) sold over US$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 announced on 17 December that it would sell $32 million.
CBM pumped $30,000 and 3.36 million baht into the market, along with $650,000, selling to edible oil-importing companies.
CBM sold over $2 million to the edible oil-importing companies on 16 December, in addition to an injection of $400,000 and 300,000 yuan into the market.
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
