CBM continues injecting US dollars into edible oil import sector

THE Central Bank of Myan­mar (CBM) sold over US$1.45 million, purchased from CMP companies, to edible oil-import­ing companies on 2 December after sales of $1.28 million on 1 December.

 

CBM made an injection of over $21 million, 2.4 million yuan and 1.5 million baht in Novem­ber.

 

CBM sold over $2.2 million to edible oil-importing compa­nies again on 28 November, after sales of $1.3 million on 27 November.

 

Furthermore, CBM in­jected $2.3 million purchased from CMP companies into the edible oil import sector on 26 November.

 

CBM injected over $2.48 million, 5.75 million yuan and 4.98 million baht in October, along with sales of over $54 million purchased from CMP companies.

 

CBM aims to curb the in­stability in the foreign exchange market and currency devalua­tion. According to CBM’s no­tification on 15 March 2024, 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