CBM to sell 20M Thai baht to importers

The Central Bank of Myanmar (CBM) announced on 23 October that it would sell 20 million Thai baht to importers. After that, it injected US$2.5 million and 16.5 million baht into the financial market on that day.
It sold over $7.5 million and 150 million baht on 22 October, $2.2 million and 1.5 million yuan on 21 October after it announced to sell $35 million for those engaged in the fuel oil and edible oil sectors as per its notification dated 20 October.
CBM injected $6 million and 200 million baht on 15 October, $730,000 on 11 October, $12.4 million and 38.7 million baht on 10 October, 660,000 yuan on 9 October and over 10 million baht on 7 October into the private sector.
CBM also pumped $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 sold over $76 million, 86 million baht and 4.8 million yuan 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 factors, starting from 5 December 2023. — NN/KK