THE Central Bank of Myanmar (CBM) sold over US$1.5 million to edible oil-importing compa­nies and over $3,520 CMP compa­nies on 27 May, along with over $ 214,000 worth of non-trade trans­actions.

CBM continued to sell over $707,000 to edible oil-importing companies and $32,700 to CMP companies on 26 May.

CBM sold over $3.03 million to edible oil-importing compa­nies, $2.5 million to LNG-import­ing companies and $34,474 million to CMP companies on 25 May, in addition to $4,930 worth of non-trade transactions.

CBM injected $1.9 million, purchased from companies working on a Cut, Make and Pack basis, into edible oil-importing companies on 22 May.

CBM sold over $2.33 million to edible oil-im­porting companies, $1.5 million to LNG companies and $16,603 to CMP companies on 21 May. Further­more, CBM also made over $353,000 worth of non-trade transactions on the same day.

CBM injected foreign cur­rencies into the market, with a view to curbing 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