THE Central Bank of Myanmar (CBM) sold over US$820,000 and 1.5 million baht on 12 May.
CBM also injected over 3.6 million baht on 9 May again into the financial market after over 5.3 million baht and 723,000 yuan on 8 May, and $710,000 on 7 May into the financial market.
CBM announced on 6 May that it would sell $33 million and 200 million baht to those engaged in the fuel oil industry. CBM sold 397,843 yuan on that day.
CBM injected over $42 million, over 20 million baht and 500,000 yuan in April, over $126 million, 320 million baht and 3.6 million yuan in March, 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 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
