CBM to sell over 10M yuan to importers

The Central Bank of Myanmar (CBM) will sell 10 million yuan to importers on the foreign exchange trading platform, announced on 19 December. It sold 1.36 million yuan and 2.48 million baht on that day.
CBM injected $30 million and 2.14 million baht on 18 December, $150,000 and over 810,000 Thai baht on 17 December and $28 million, one million Thai baht and over 710,000 yuan on 16 December, 340,000 yuan and 400,000 Thai baht on 13 December, $28.51 million and 600,000 Thai baht on 12 December and 500,000 yuan again on 11 December into the financial market as well.
CBM announced on 10 December that it would sell $35 million and 40 million baht through the foreign exchange trading platform. Then, it sold about 900,000 yuan on 10 December, $15 million, over one million yuan and 200 million baht on 6 December, over 1.55 million yuan on 5 December after sales of 1.48 million yuan on 4 December and 1.43 million yuan on 3 December.
Furthermore, on 2 December, CBM injected $38 million, 1.48 million yuan and 107.46 million baht into online foreign exchange trading platforms.
CBM pumped over $59 million, over 280 million baht and 8.78 million yuan in November and over $91 million, over 610 million baht and 9.8 million yuan in October into the financial market.
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 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