CBM sells $730,000 on 11 Oct

The Central Bank of Myanmar (CBM) injected over US$730,000 on 11 October, $12.4 million and 38.7 million Thai baht, 660,000 yuan on 9 October and over 10 million Thai baht on 7 October into the private sector.
CBM also 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