ON 19 February, the Central Bank of Myanmar (CBM) sold over 970,000 yuan and 4 million Thai baht, as well as over US$1.8 million of foreign currency purchased from CMP companies, to edible oil-importing companies.
On 18 February, CBM sold $900,000 to edible oil-importing companies and $2 million to fuel oil-importing companies, purchased from CMP companies, along with an injection of $2 million, 130,000 yuan, and over 679,540 baht on the same day.
In foreign exchange trading, foreign currencies were purchased for edible oil (14 per cent), fuel oil (36 per cent), pharmaceuticals and pharmaceutical raw materials (13 per cent), industrial raw materials (eight per cent), car and motorcycle spare parts (12 per cent), consumer goods (four per cent), agricultural goods (three per cent), and other goods and non-trade transactions (eight per cent). CBM also reported that, on 19 February, the US dollar exchange rate was set at K3,654 on the foreign exchange trading platform.
CBM has allowed authorized dealers (private banks) to conduct online foreign exchange trading freely at market rates, based on supply and demand, starting 5 December 2023. — NN/TH
