THE Central Bank of Myanmar (CBM) announced on 7 April that it would pump US$30 million into the fuel oil industry and afterwards, it sold $40 million and over six million baht on that day.
CBM injected 500,000 yuan on 4 April and over 2.35 million baht on 3 April into the market.
CBM also announced on 31 March that it would pump $40 million into the fuel oil industry after sales of 3.22 million baht on that day.
CBM injected over $88 million, 7.5 million yuan and 161 million baht in February and over $124 million, over 13.8 million baht and over 4.8 million yuan in January. 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 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
