CBM sells CNY5M on 3 Feb
THE Central Bank of Myanmar (CBM) sold five million 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
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