THE Central Bank of Myanmar (CBM) announced on 13 Jan­uary that it would sell US$25 million to fuel oil importers soon after injecting 600,000 yuan into the financial market on that day.

 

It sold $3.9 million on 11 January, 714,000 yuan on 10 January 2025, $2.2 million on 9 January, $256,000 on 8 January again after sales of over $2.15 million on 7 January, $25 mil­lion and 2.8 million baht on 6 January, 510,000 yuan on 3 Jan­uary, $25 million, over 670,000 yuan and 2.45 million baht on 2 January into the financial market.

 

CBM pumped $144 million, 321 million baht and over 12 million yuan in December 2024, over $59 million, over 280 mil­lion baht and 8.78 million yuan in November and over $91 mil­lion, over 610 million baht and 9.8 million yuan in October into the financial market.

 

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