CBM to inject US$23M, THB150M into fuel oil sector
THE Central Bank of Myanmar (CBM)
announced on 24 February that it would sell $23 million and 150 million baht
to fuel oil importers.
CBM pumped 536,700 yuan and over two
million baht on 24 February, $20 million on 21 February, $50,000, over 630,000
yuan and over 910,000 baht on 20 February, 1.19 million baht on 19 February,
970,000 yuan and one million baht on 18 February and 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 into the financial
market 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
No comments