THE Central Bank of Myanmar (CBM) sold $33.5 million and 156 million baht on 11 March after it had announced on 10 March to inject them into the fuel oil sector.
CBM sold $197,032.72 on 10 March, $335,000 and 1.98 million baht on 7 March, and over $130,000 on 6 March.
CBM announced on 5 March that it would soon sell 50 million baht to importers. Later, it sold over eight million baht on that day.
CBM announced to the sale of $23 million and 150 million baht on 3 March for fuel oil importers. It injected that amount of foreign currencies into the fuel oil sector on 4 March. It sold $550,000, 400,000 yuan and 638,550 baht on 3 March.
CBM pumped 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
