CBM to inject US$33M into fuel oil sector

THE Central Bank of Myanmar (CBM) announced on 1 July that it would pump US$33 million into the fuel oil sector. CBM sold over $1.15 million that pur­chased from CMP companies to edible oil-importing companies.

 

CBM sold 643,634.29 to com­modities-importing companies and $377.362.5 to edible oil com­panies on 30 June after injecting 500,000 baht into the market.

 

CBM $500,000 to commodi­ties-importing companies on 27 June, in addition to a 400,000- yuan injection into the market and $845,000 purchased from CMP companies into the edible oil industry.

 

CBM sold $1 million to com­modities-importing companies after the injection of 160,000 yuan into the market on 26 June. Furthermore, CBM sold $400,000 to edible oil-importing companies.

 

CBM made $1.479 million injection from foreign curren­cies purchased from the CMP businesses into the edible oil-im­porting sector on 25 June.

 

CBM sold over 700,000 yuan on 24 June. Furthermore, CBM sold $870,000, which was purchased from the CMP com­panies, to edible oil-importing companies on that day.

 

CBM announced on 23 June to pump $30 million into the fuel oil sector. CBM sold $464,500 to edible oil-importing companies and over $496,000 to commodities-importing compa­nies on that day after the injec­tion of over 16,540 yuan into the market.

 

CBM sold over $600,000 and 387,000 yuan on 20 June. Furthermore, it sold $800,000 to edible oil-importing companies and over $503,000 from its des­ignated injection to commodi­ties-importing companies.

 

CBM pumped over $577,000 out of its designated $10 million injection to commodities-im­porting companies on 19 June.

 

Moreover, CBM sold $1.524 million from the companies working on a Cut-Make and Pack basis to edible oil-import­ing companies on the same day.

 

CBM sold over $1 million out of the designated $10 million injection to commodities-im­porting companies on 18 June 2025. Furthermore, CBM also sold $1.68 million from CMP companies to edible oil import­ing companies on that day.

 

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