CBM to sell 7M yuan, 20M Thai baht to importers

The Central Bank of Myanmar (CBM) announced on 5 November that it would sell seven million yuan and 20 million Thai baht to importers on foreign exchange trading platforms.
It sold US$15 million, 1.5 million yuan and 100.8 million baht on 4 November.
CBM injected over $91 million, over 9.8 million yuan and over 610 million baht into the financial market in October 2024. 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, starting from 5 December 2023. — NN/KK