THE Central Bank of Myanmar (CBM) sold 1.8 million yuan and three million baht in the first three days of this week.
CBM injected over one million baht on 19 February, 970,000 yuan and one million baht on 18 February, 910,000 yuan and one million baht on 17 February, $120,000, one million yuan and over 950,000 baht on 14 February and over 548,000 yuan and 597,000 baht on 13 February.
CBM announced on 11 February to sell $21 million to fuel oil importers and shortly after, injected over $21.4 million and 500,000 baht into the markets on that day.
It sold $82,000, 220,000 yuan and one million baht on 10 February, $23 million and 600,000 yuan on 7 February and over $150,000 and 214,830 yuan on 6 February.
CBM announced on 5 February that it would inject $23 million into the fuel oil sector. CBM sold $490,000 and 500,000 yuan on 5 February, over 105,900 yuan on 4 February and 500,000 yuan on 3 February. CBM pumped in $124M, 13.8M baht and 4.8M yuan into financial markets in January 2025.
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
