CBM sells over CNY1.8M, THB3M in 3 days

THE Central Bank of Myanmar (CBM) sold 1.8 million yuan and three million baht in the first three days of this week.

 

CBM injected over one mil­lion baht on 19 February, 970,000 yuan and one million baht on 18 February, 910,000 yuan and one million baht on 17 February, $120,000, one million yuan and over 950,000 baht on 14 Febru­ary and 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 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