CBM sells over CNY723,000, THB5.3M for financial market on 8 May

THE Central Bank of Myan­mar (CBM) sold over 5.3 mil­lion baht and 723,000 yuan on 8 May, and US$710,000 on 7 May again.

 

CBM announced on 6 May that it would sell $33 million and 200 million baht to those engaged in the fuel oil indus­try. CBM sold 397,843 yuan on that day.

 

CBM injected over $42 mil­lion, over 20 million baht and 500,000 yuan in April, over $126 million, 320 million baht and 3.6 million yuan in March, over $88 million, 7.5 million yuan and 161 million baht in Feb­ruary and over $124 million, over 13.8 million baht and over 4.8 million yuan in January. CBM aims to curb the insta­bility in the foreign exchange market and 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