CBM sells $12.4M, 38.7M Thai baht on 10 Oct

The Central Bank of Myanmar (CBM) sold US$12.4 million and 38.7 million Thai baht on 10 October, after its sales of over 660,000 yuan and over 10 million baht to those engaged in the private sector on 7 October.
CBM pumped US$13.1 million and 288,000 yuan on 4 October, $780,000, 1.2 million yuan, and one million baht on 3 October, and over 1.2 million yuan and 10.2 million baht into the financial market on 2 October.
CBM also injected over $76 million, 86 million baht, and 4.8 million yuan into financial markets in September. Moreover, CBM sold over $190 million, 19 million yuan, and 79 million baht in August.
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