THE Central Bank of Myanmar (CBM) announced on 16 April that it would sell US$55 million to fuel oil importers and distributors.
CBM sold US$1.9 million on 10 April. CBM announced on 7 April that it would pump $30 million into the fuel oil industry and after that, 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 injected 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 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
