CBM injects CNY548,000, THB597,000 into fuel oil sector on 13 Feb

THE Central Bank of Myanmar (CBM) sold over 548,000 yuan and 597,000 baht on 13 February.

CBM announced on 11 Feb­ruary to sell $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 collaborating 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