CBM sells over one million yuan on 4 Dec
The Central Bank of Myanmar (CBM) sold over 1.48 million yuan on 4 December again after sales of 1.43 million yuan on 3 December and US$38 million, 1.48 million yuan and 107.46 million Thai baht on 2 December.
CBM sold 16.54 million baht and announced the sale of 10 million yuan to importers on 29 November. CBM sold over $59 million, over 280 million baht and 8.78 million yuan in November.
CBM injected over $91 million, over 9.8 million yuan and over 610 million baht into the financial market in October 2024.
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 joining hands 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
