CBM injects $21M into fuel oil sector

 

THE Central Bank of Myanmar (CBM) announced on 11 Feb­ruary that it would sell US$21 million to fuel oil importers and, shortly after, injected over $21.4 million and 500,000 baht into the markets on that day.

 

It sold $82,000, 220,000 yuan and one million baht into the financial market on 10 Feb­ruary, $23 million and 600,000 yuan on 7 February and over $150,000 and 214,830 yuan on 6 February.

 

CBM announced on 5 Feb­ruary that it would inject $23 million into the fuel oil sector. CBM sold $490,000 and 500,000 yuan on 5 February, over 105,900 yuan on 4 February and 500,000 yuan on 3 February. CBM pumped in $124M, 13.8M baht and 4.8M yuan into finan­cial markets in January 2025.

 

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